Steve Jobs resigns as Apple CEO

The charismatic figure, credited with turning around the fortunes of the technology giant, steps dow

Steve Jobs, the man credited with turning Apple into one of the most industry-shaping companies around, has resigned from his position as chief executive officer.

The 55 year old, who co-founded the technology giant from a garage, has been on medical leave for an undisclosed condition since January. He previously survived pancreatic cancer. In his resignation letter, Jobs said:

I have always said if there ever came a day when I could no longer meet my duties and expectations as Apple's CEO, I would be the first to let you know. Unfortunately, that day has come.

In a statement, Apple said that Tim Cook, who has been running things in Jobs' absence, will take over as chief executive, while Jobs will move to the newly-created role of chairman.

The decision has sent shockwaves through the business world, with shares in Apple dropping by at least 5 per cent in overnight trading.

Perhaps more than any other current corporate leader, Jobs is closely identified with the success of his company. Seen as a visionary, Jobs' many admirers say that his talent lies in predicting what consumers want before they know they want it.

He ran Apple twice. The first time was from its creation in 1976 until he was ousted in 1985, and the second was 20 years later when he returned to rescue the floundering company. He successfully turned Apple round, releasing a series of iconic products. The iPod has reshaped the music industry, while the iPhone changed expectations of what a mobile phone should do.

Earlier this month, Apple briefly became the world's most valuable company, overtaking the oil giant Exxon Mobil, worth over $350bn. It didn't last long, but is astonishing given that Apple sells things that people want, rather than necessities like oil.

Over at the Telegraph, Shane Richmond suggests that it is important not to overstate the impact of Jobs' departure:

Apple's innovations over the last decade are the result of the company's structure: a small team at the top, focusing on a tightly-controlled number of products. Ideas can come from anywhere but those top executives spend a lot of time deciding what not to work on, to ensure that the company's resources aren't spread too thinly. Though Jobs played a key role in developing those working practices, the ideas are embedded deep within the company by this point. Apple's competitors might be hoping that the company's fortunes will change for the worse without Jobs but I wouldn't bet on it.

Whether Apple continues to hit the mark remains to be seen, but the technology industry has lost one of its most charismatic figures.

Samira Shackle is a freelance journalist, who tweets @samirashackle. She was formerly a staff writer for the New Statesman.

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David Cameron shows Labour how to do it

Leftwing rhetoric masked rightwing reality in Cameron's conference speech.

“The tanks are in the kitchen,” was the gloomy verdict of one Labour staffer to a speech in which the Prime Minister roamed freely into traditional left-wing territory.

But don’t be fooled: David Cameron is still the leader of an incredibly right-wing government for all the liberal-left applause lines.

He gave a very moving account of the difficulties faced by careleavers: but it is his government that is denying careleavers the right to claim housing benefit after they turn 22.

He made a powerful case for expanding home ownership: but his proposed solution is a bung for buy-to-let boomers and dual-earner childless couples, the only working-age demographic to do better under Cameron than under Labour.

On policy, he made just one real concession to the left: he stuck to his guns on equal rights and continued his government’s assault on the ridiculous abuse of stop-and-search. Neither of these are small issues, and they are a world away from the Conservative party before Cameron – but they also don’t cost anything.

In exchange for a few warm words, Cameron will get the breathing space to implement a true-blue Conservative agenda, with an ever-shrinking state for most of Britain, accompanied by largesse for well-heeled pensioners, yuppie couples, and small traders.

But in doing so, he gave Labour a lesson in what they must do to win again. Policy-wise,it is Labour – with their plans to put rocketboosters under the number of new housing units built – who have the better plan to spread home ownership than Cameron’s marginal solutions. But last week, John McDonnelll focussed on the 100,000 children in temporary accomodation. They are undoubtedly the biggest and most deserving victims of Britain’s increasingly dysfunctional housing market. But Labour can’t get a Commons majority – or even win enough seats to form a minority government – if they only talk about why their policies are right for the poor. They can’t even get a majority of votes from the poor that way.

What’s the answer to Britain’s housing crisis? It’s more housebuilding, including more social housing. Labour can do what Cameron did today in Manchester – and deliver radical policy with moderate rhetoric, or they can lose.

But perhaps, if Cameron feels like the wrong role model, they could learn from a poster at the People’s History Museum, taken not from Labour’s Blairite triumphs or even the 1960s, but from 1945: “Everyone – yes, everyone – will be better off under a Labour government”.

Stephen Bush is editor of the Staggers, the New Statesman’s political blog.