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	<title>TechTag: resignation &#124; Tech &#124; TIME.com</title>
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		<title>TechTag: resignation &#124; Tech &#124; TIME.com</title>
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		<title>Apple Puts New CEO Tim Cook&#8217;s Tenure on Timetable</title>
		<link>http://techland.time.com/2011/08/29/apple-puts-new-ceo-tim-cooks-tenure-on-timetable/</link>
		<comments>http://techland.time.com/2011/08/29/apple-puts-new-ceo-tim-cooks-tenure-on-timetable/#comments</comments>
		<pubDate>Mon, 29 Aug 2011 13:22:06 +0000</pubDate>
		<dc:creator>Matt Peckham</dc:creator>
				<category><![CDATA[Apple]]></category>
		<category><![CDATA[Business]]></category>
		<category><![CDATA[News]]></category>
		<category><![CDATA[ceo]]></category>
		<category><![CDATA[resignation]]></category>
		<category><![CDATA[SEC]]></category>
		<category><![CDATA[steve jobs]]></category>
		<category><![CDATA[tim cook]]></category>

		<guid isPermaLink="false">http://techland.time.com/?p=95139</guid>
		<description><![CDATA[How long will Apple&#8217;s Tim Cook sit on Apple&#8217;s CEO throne? Probably through the midpoint of 2021, according to the board of directors, who made the move last Friday to lock Cook in with one million shares of restricted company stock. Half of those shares are scheduled to vest between August 24, 2016 and August 24, 2021—so long as Cook continues to be employed by the Cupertino-based company. &#8220;In connection with Mr. Cook&#8217;s appointment as Chief Executive Officer, the Board awarded Mr. Cook 1,000,000 restricted stock units,&#8221; wrote Apple in a U.S. Securities and Exchange Commission (SEC) filing. One million Apple shares is a monster pile of cash even today: Apple&#8217;s closing stock price Friday was 383.58, so we&#8217;re talking a 2011 pot of nearly $384 million. Assuming Apple continues its meteoric ascent—and no one&#8217;s come up with a good argument suggesting it won&#8217;t—Cook stands to hit 2021 a vastly wealthier individual than he already is. (MORE: The Beginning of the Post–Steve Jobs Era) How&#8217;s that compare to his former boss&#8217;s stake? Jobs has been taking an annual salary of $1, and currently holds 5.5 million Apple shares, which means he&#8217;s worth slightly more than $2.1 billion (plus, you know, a couple bucks). Jobs resigned as Apple CEO unexpectedly last week after a 15 year stint during which he oversaw the transformation of the company. The resignation wasn&#8217;t unexpected, given presumed health complications stemming from a prolonged battle with pancreatic cancer and its aftermath, but the timing was. Many thought Jobs would continue in his role as Apple&#8217;s CEO for years to come. Instead, he&#8217;s stepped down to become Chairman of the Board, blessing protégé Tim Cook&#8217;s ascent from Chief Operating Officer (held since January 2007) to the CEO mantle. &#8220;Mr. Cook brings to the Board extensive executive leadership experience in the technology industry, including the management of worldwide operations, sales, service and support,&#8221; wrote Apple in the SEC filing. Cook&#8217;s been with Apple nearly as long as Jobs (Jobs&#8217; second time around, that is). Cook started with the company in<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=techland.time.com&#038;blog=5290478&#038;post=95139&#038;subd=timenerdworld&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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	<primary_category>Business</primary_category><primary_category_link>http://techland.time.com/category/news/business/</primary_category_link>
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			<media:title type="html">mattpeckham</media:title>
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		<item>
		<title>Apple Will Still Be Apple, Even Without Steve Jobs</title>
		<link>http://techland.time.com/2011/08/26/apple-will-still-be-apple-even-without-steve-jobs/</link>
		<comments>http://techland.time.com/2011/08/26/apple-will-still-be-apple-even-without-steve-jobs/#comments</comments>
		<pubDate>Fri, 26 Aug 2011 13:00:52 +0000</pubDate>
		<dc:creator>Ben Bajarin</dc:creator>
				<category><![CDATA[Apple]]></category>
		<category><![CDATA[Big Picture]]></category>
		<category><![CDATA[Business]]></category>
		<category><![CDATA[News]]></category>
		<category><![CDATA[Reviews & Features]]></category>
		<category><![CDATA[resignation]]></category>
		<category><![CDATA[steve jobs]]></category>

		<guid isPermaLink="false">http://techland.time.com/?p=95019</guid>
		<description><![CDATA[Ben Bajarin is the Director of Consumer Technology Analysis and Research at Creative Strategies, Inc, a technology industry analysis and market intelligence firm located in Silicon Valley. Although the news of Steve Jobs&#8217; resignation was sudden, as most news is, many of us in the analyst community have been prepared for it. To some degree, those in the media have been prepared as well but it has been interesting to see all the ways the news has been covered. Obviously the biggest question is that of Apple&#8217;s future without Steve Jobs at the helm as CEO. I feel like I have been asked this question a thousand times already and my answer has always stayed the same. Apple will be fine. (PHOTOS: The Long, Extraordinary Career of Steve Jobs) I became a technology industry analyst 11 years ago and studying Apple has been almost a daily task of my career. My firm has been studying Apple for over 30 years. We are confident Apple will continue to innovate, break new barriers, and create new categories of computing. Many articles have come out rightly pointing to the many fundamental strength&#8217;s of Apple&#8217;s business. Things like culture, the Apple ecosystem, and their five-year product planning cycle. Those who have said that Steve Jobs is Apple—and therefore Apple is weaker now that he&#8217;s stepping down—are simply wrong. Smart people know better. Even Jobs himself knows better. Steve Jobs has gone well out of his way to acknowledge the people at Apple: the teams of human beings who believed they were working on the greatest technology products in the world. Apple transcends any one individual to instead represents the sum of its parts, which are many. The other question that has come up often is what does this mean for Apple&#8217;s competitors? Do they now have a window of opportunity to gain ground and compete? The answer I give is if the competition couldn&#8217;t compete when Jobs was CEO then it&#8217;s doubtful they will compete when he is not. (MORE: Why Competing with Apple<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=techland.time.com&#038;blog=5290478&#038;post=95019&#038;subd=timenerdworld&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	<primary_category>Business</primary_category><primary_category_link>http://techland.time.com/category/news/business/</primary_category_link>
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			<media:title type="html">benbajarin</media:title>
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		<title>Two Minute Video: Steve Jobs, This Is Your Life (at Apple)</title>
		<link>http://www.time.com/time/video/player/0,32068,1128937837001_2090442,00.html</link>
		<comments>http://www.time.com/time/video/player/0,32068,1128937837001_2090442,00.html#comments</comments>
		<pubDate>Thu, 25 Aug 2011 18:50:52 +0000</pubDate>
		<dc:creator>Doug Aamoth</dc:creator>
				<category><![CDATA[Apple]]></category>
		<category><![CDATA[Videos]]></category>
		<category><![CDATA[Web Video]]></category>
		<category><![CDATA[Gadgets]]></category>
		<category><![CDATA[resignation]]></category>
		<category><![CDATA[steve jobs]]></category>
		<category><![CDATA[videos]]></category>
		<category><![CDATA[web video]]></category>

		<guid isPermaLink="false">https://timenerdworld.wordpress.com/?p=94987</guid>
		<description><![CDATA[The world is a little less geeky today, friends. Here&#8217;s a quick look back at Steve Jobs&#8217; career at Apple. MORE: Steve Jobs Resignation Coverage on Techland Want more videos like this one? Click here&#8230;<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=techland.time.com&#038;blog=5290478&#038;post=94987&#038;subd=timenerdworld&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	<primary_category>Web Video</primary_category><primary_category_link>http://techland.time.com/category/apps-web/web-video-apps-web/</primary_category_link>
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			<media:title type="html">daamoth</media:title>
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		<title>Jobs Resigns, Apple&#8217;s Stock Drops and RIM&#8217;s Goes Up?</title>
		<link>http://techland.time.com/2011/08/25/jobs-resigns-apples-stock-drops-and-rims-goes-up/</link>
		<comments>http://techland.time.com/2011/08/25/jobs-resigns-apples-stock-drops-and-rims-goes-up/#comments</comments>
		<pubDate>Thu, 25 Aug 2011 16:30:10 +0000</pubDate>
		<dc:creator>Matt Peckham</dc:creator>
				<category><![CDATA[Apple]]></category>
		<category><![CDATA[Apps & Software]]></category>
		<category><![CDATA[Business]]></category>
		<category><![CDATA[Gadgets]]></category>
		<category><![CDATA[News]]></category>
		<category><![CDATA[Smartphones]]></category>
		<category><![CDATA[blackberry]]></category>
		<category><![CDATA[Research in Motion]]></category>
		<category><![CDATA[resignation]]></category>
		<category><![CDATA[RIM]]></category>
		<category><![CDATA[steve jobs]]></category>

		<guid isPermaLink="false">http://techland.time.com/?p=94959</guid>
		<description><![CDATA[Gauging the U.S. stock market&#8217;s like refereeing a game of psych-out, so caveat reader, but as short-term signals go, it looks like Apple&#8217;s misfortunes—say the world&#8217;s most illustrious CEO resigning—are not-so-disguised blessings for Research in Motion. RIM shares surged more than 2% Thursday morning after the Blackberry manufacturer revealed a new $5 a month cloud-based BBM Music service with a twist—you can share your songs with fellow subscribers. And here&#8217;s another: You can select up to 50 songs at a time, and since any of your friends can listen to them, the more BBM friends you have, the more music in your virtual coffers. You&#8217;re allowed to swap out 25 songs a month. (PHOTOS: The Long, Extraordinary Career of Steve Jobs) Whether you think BBM&#8217;s brilliant, boring, or just irrelevant, it&#8217;s here today, and apparently winning investor kudos. Apple doesn&#8217;t yet have an online music storage and sharing service. All you can do with iTunes is browse and buy, though iTunes Match promises to let you store your music online when Apple&#8217;s iCloud service launches later this year. Apple&#8217;s stock was off a modest 2% in early trading this morning following last night&#8217;s surprise announcement that CEO Steve Jobs would step down, cede his position to COO Tim Cook and become Apple&#8217;s Chairman of the Board. That&#8217;s after Apple share prices fell over 5% last night in after-hours trading. So far, at least, the &#8220;fallout&#8221; over Jobs&#8217; resignation is a non-event. And while investors may be rewarding RIM in part because of the coincident timing of Apple and RIM&#8217;s announcements, it&#8217;s unlikely they&#8217;re punishing Apple because of BBM Music—or, for that matter, Apple&#8217;s MIA alternative, though after the considerable ups and downs of Apple&#8217;s MobileMe service, perhaps I&#8217;m speaking too soon. MORE: End of an Era: Apple&#8217;s Steve Jobs Steps Down, Tim Cook Steps Up Matt Peckham is a reporter at TIME. Find him on Twitter at @mattpeckham or on Facebook. You can also continue the discussion on TIME’s Facebook page and on Twitter at @TIME.<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=techland.time.com&#038;blog=5290478&#038;post=94959&#038;subd=timenerdworld&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	<primary_category>Smartphones</primary_category><primary_category_link>http://techland.time.com/category/gadgets/smartphones/</primary_category_link>
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			<media:title type="html">mattpeckham</media:title>
		</media:content>
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		<title>Do We Really Care About Steve Jobs?</title>
		<link>http://techland.time.com/2011/08/25/do-we-really-care-about-steve-jobs/</link>
		<comments>http://techland.time.com/2011/08/25/do-we-really-care-about-steve-jobs/#comments</comments>
		<pubDate>Thu, 25 Aug 2011 16:00:22 +0000</pubDate>
		<dc:creator>Chris Gayomali</dc:creator>
				<category><![CDATA[Apple]]></category>
		<category><![CDATA[Health & Science]]></category>
		<category><![CDATA[resignation]]></category>
		<category><![CDATA[steve jobs]]></category>
		<category><![CDATA[web]]></category>

		<guid isPermaLink="false">http://techland.time.com/?p=94905</guid>
		<description><![CDATA[I was on my way to dinner last night when I read the news that Steve Jobs was resigning from his position as Apple&#8217;s CEO on Twitter. I don&#8217;t remember who said it first, exactly, but soon my stream was flooded with reports, rumors and retweets discussing his transition to Executive Chairman. Facebook? Essentially said the same thing. A few people made light of the situation. Some played the &#8220;Who&#8217;s Steve Jobs?&#8221; card. Most others seemed to wish Apple&#8217;s visionary the best, at least health-wise. (PHOTOS: The Long, Extraordinary Career of Steve Jobs) Here&#8217;s the thing: People care. Twitter, Facebook and Google seem especially well bred for these powerful cultural upticks to gauge what exactly it is people are talking about: Michael Jackson&#8217;s passing, Osama bin Laden finally being found, or even the Virginia earthquake from just two days ago. So I decided to try and figure out how much people care. And what better way to do that than look at what they&#8217;re searching? Here&#8217;s a plot from Google Insights starting in January for the search term &#8220;Steve Jobs&#8221; — the filters I used were for &#8220;time ranges,&#8221; &#8220;news,&#8221; and &#8220;worldwide.&#8221; Singapore comes in at number one, with Hong Kong (maybe it&#8217;s the fake Apple store there?), Switzerland and Italy all preceding the United States. Here are the actual search terms that people were stringing together. Here, the data is plotted as far back as 2003. That mild spike in 2004 is when he first announced to his employees that he&#8217;d been diagnosed with pancreatic cancer. Then there&#8217;s a few years of normalcy until mid-2008, when rumors began to swirl that Jobs&#8217; fragility was actually more than a mere &#8220;common bug,&#8221; at least according to the New York Times. Then we see &#8220;health&#8221; and &#8220;Steve Jobs&#8221; switched on again for January and February in 2011, with that last spike occurring after yesterday&#8217;s announcement. As for Twitter? The company&#8217;s been looking to edge out Bitly and other stat-tracking competitors (such as Backtweets, which it purchased), so for now, the actual<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=techland.time.com&#038;blog=5290478&#038;post=94905&#038;subd=timenerdworld&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	<primary_category>Health &amp; Science</primary_category><primary_category_link>http://techland.time.com/category/news/health-science/</primary_category_link>
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			<media:title type="html">chrisgayomali2</media:title>
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		<title>Steve Wozniak Calls Jobs &#8216;Best Business Leader of Our Time&#8217;</title>
		<link>http://techland.time.com/2011/08/25/steve-wozniak-calls-jobs-best-business-leader-of-our-time/</link>
		<comments>http://techland.time.com/2011/08/25/steve-wozniak-calls-jobs-best-business-leader-of-our-time/#comments</comments>
		<pubDate>Thu, 25 Aug 2011 12:30:00 +0000</pubDate>
		<dc:creator>Erica Ho</dc:creator>
				<category><![CDATA[Apple]]></category>
		<category><![CDATA[Business]]></category>
		<category><![CDATA[News]]></category>
		<category><![CDATA[resignation]]></category>
		<category><![CDATA[steve jobs]]></category>
		<category><![CDATA[Steve Wozniak]]></category>

		<guid isPermaLink="false">http://techland.time.com/?p=94858</guid>
		<description><![CDATA[In an interview late Wednesday night, Apple co-founder Steve Wozniak told Bloomberg News exactly what he thought about Steve Jobs. Known as Woz, Wozniak went on to wax poetic about the now-former Apple CEO, calling him the “best business leader of our time.” While Woz acknowledged that he’s not personally close to the Apple CEO like he used to be, he does admire how Jobs has run the company and had nothing but positive things to say. (MORE: Why Steve Jobs&#8217; Resignation as CEO Isn&#8217;t the End of the World) In the interview with Bloomberg’s Emily Chang, Woz briefly talked about Apple’s and Job’s design philosophy toward computing, which has distinguished the company from the competition: “He just thinks very much about getting technology out of the picture. You know, from the very start until today, it&#8217;s how you make something seem like it&#8217;s not really a piece of technology in the way you have to learn all these complicated geek, techy steps to get things done… We’ve gotten closer and closer to treating a computer like it’s a human almost just speaking into our iPhones, touching them, they all have the senses of a human. And the thing is, Steve is going to go down in history as the most important technical leader ever.” Woz also expresses some confidence that Tim Cook, Apple’s new CEO, is capable of running a company as large as Apple. As for Jobs, like we’ve speculated, Woz thinks that “[Jobs] will watch the company for a while&#8230; for a company as large as Apple, corporate culture doesn&#8217;t change overnight. The quality of the people doesn&#8217;t change.&#8221; MORE: Who Is Tim Cook and Can He Truly Replace Steve Jobs? [via Bloomberg] Erica Ho is a reporter at TIME. Find her on Twitter at @ericamho and Google+. You can also continue the discussion on TIME’s Facebook page and on Twitter at @TIME.<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=techland.time.com&#038;blog=5290478&#038;post=94858&#038;subd=timenerdworld&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	<primary_category>Business</primary_category><primary_category_link>http://techland.time.com/category/news/business/</primary_category_link>
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			<media:title type="html">ericaho</media:title>
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		<title>Watch a Young Steve Jobs Introduce the Original Macintosh</title>
		<link>http://techland.time.com/2011/08/25/watch-a-young-steve-jobs-introduce-the-original-macintosh/</link>
		<comments>http://techland.time.com/2011/08/25/watch-a-young-steve-jobs-introduce-the-original-macintosh/#comments</comments>
		<pubDate>Thu, 25 Aug 2011 11:30:49 +0000</pubDate>
		<dc:creator>Erica Ho</dc:creator>
				<category><![CDATA[Apple]]></category>
		<category><![CDATA[Computers]]></category>
		<category><![CDATA[Gadgets]]></category>
		<category><![CDATA[Gaming & Culture]]></category>
		<category><![CDATA[Web Video]]></category>
		<category><![CDATA[gadgets]]></category>
		<category><![CDATA[Macintosh]]></category>
		<category><![CDATA[resignation]]></category>
		<category><![CDATA[steve jobs]]></category>

		<guid isPermaLink="false">http://techland.time.com/?p=94852</guid>
		<description><![CDATA[He had hair. Hear the music. The crowd’s going positively nuts. This is the moment that Steve Jobs unleashed the Macintosh out into the world, and sealed his fate as one of the most well-known CEOs to date. Larry who? MORE: Steve Jobs Resigns As Apple CEO, Will Become Chairman [via YouTube] Erica Ho is a reporter at TIME. Find her on Twitter at @ericamho and Google+. You can also continue the discussion on TIME’s Facebook page and on Twitter at @TIME.<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=techland.time.com&#038;blog=5290478&#038;post=94852&#038;subd=timenerdworld&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	<primary_category>Web Video</primary_category><primary_category_link>http://techland.time.com/category/apps-web/web-video-apps-web/</primary_category_link>
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			<media:title type="html">ericaho</media:title>
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		<title>Why Steve Jobs&#8217; Resignation as CEO Isn&#8217;t the End of the World</title>
		<link>http://techland.time.com/2011/08/24/why-steve-jobs-resignation-as-ceo-shouldnt-be-a-surprise/</link>
		<comments>http://techland.time.com/2011/08/24/why-steve-jobs-resignation-as-ceo-shouldnt-be-a-surprise/#comments</comments>
		<pubDate>Thu, 25 Aug 2011 03:56:59 +0000</pubDate>
		<dc:creator>Erica Ho</dc:creator>
				<category><![CDATA[Apple]]></category>
		<category><![CDATA[Business]]></category>
		<category><![CDATA[News]]></category>
		<category><![CDATA[breaking]]></category>
		<category><![CDATA[ceo]]></category>
		<category><![CDATA[resignation]]></category>
		<category><![CDATA[steve jobs]]></category>
		<category><![CDATA[tim cook]]></category>

		<guid isPermaLink="false">http://techland.time.com/?p=94841</guid>
		<description><![CDATA[It&#8217;s hard to imagine Apple without Steve Jobs. But with Apple stronger than it has ever been, this might have been the best time for Tim Cook to step in as its new CEO. The company is in a position where it can probably take the biggest of hits—including losing its star chief executive. Steve Jobs&#8217; resignation shouldn&#8217;t have been a surprise. Diagnosed with pancreatic cancer seven years ago, his health has deteriorated in recent years. This year wasn&#8217;t the first year he took a medical leave; the first time was back in 2009, after tech pundits noticed his conspicuous absence from Apple&#8217;s annual Worldwide Developer Conference. (MORE: Steve Jobs Resigns As Apple CEO, Will Become Chairman) Apple&#8217;s stock, AAPL, has routinely suffered a beating whenever negative Jobs news has surfaced. The first time that Jobs took medical leave in 2009, Cook stepped to manage the company&#8217;s operations. The stock dipped significantly, but then rebounded by the time Jobs returned. It was pretty much the same picture earlier this year when Jobs took a second medical leave of absence. Despite the fact Jobs wasn&#8217;t running the show, Apple stocks reached its all-time high in July, trading at $403 per share. It should be no surprise that this time around, when Jobs decided to step down, Apple stock would take another beating. That&#8217;s not to say that we should count Jobs out. He&#8217;ll still be a chairman on Apple&#8217;s board, so he&#8217;ll have his say about what direction he wants to keep the company moving in. He&#8217;s reportedly been active at Apple during his time off as CEO, and it is likely that he will continue to play a role, health permitting. There is no question that Apple can survive without Jobs, but that doesn’t mean we won&#8217;t continue to see touches of Apple&#8217;s ex-CEO. (MORE: Who Is Tim Cook and Can He Truly Replace Steve Jobs?) But there are a few key differences this time around: The announcement is coming just before Apple&#8217;s next iPhone launch, and there are signs<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=techland.time.com&#038;blog=5290478&#038;post=94841&#038;subd=timenerdworld&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	<primary_category>Business</primary_category><primary_category_link>http://techland.time.com/category/news/business/</primary_category_link>
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			<media:title type="html">ericaho</media:title>
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		<title>Who Is Tim Cook and Can He Truly Replace Steve Jobs?</title>
		<link>http://techland.time.com/2011/08/24/who-is-tim-cook-and-can-he-truly-replace-steve-jobs/</link>
		<comments>http://techland.time.com/2011/08/24/who-is-tim-cook-and-can-he-truly-replace-steve-jobs/#comments</comments>
		<pubDate>Thu, 25 Aug 2011 01:26:35 +0000</pubDate>
		<dc:creator>Doug Aamoth</dc:creator>
				<category><![CDATA[Apple]]></category>
		<category><![CDATA[Business]]></category>
		<category><![CDATA[News]]></category>
		<category><![CDATA[resignation]]></category>
		<category><![CDATA[steve jobs]]></category>
		<category><![CDATA[tim cook]]></category>

		<guid isPermaLink="false">https://timenerdworld.wordpress.com/?p=94835</guid>
		<description><![CDATA[With news of Steve Jobs&#8217; resignation from Apple, interim CEO Tim Cook now finds himself behind the wheel of the most valuable computer company in the world. Cook&#8217;s been deeply entrenched within Apple for well over a decade, so the company is seemingly in good hands. (PHOTOS: The Long, Extraordinary Career of Steve Jobs)  But is Cook the next Steve Jobs? That remains to be seen. Cook&#8217;s own answer to the question of whether he could replace Steve Jobs is simply: &#8220;No. He&#8217;s irreplaceable.&#8221; That&#8217;s what he said during an interview with Fortune back in 2008—and he&#8217;s right. However, Apple&#8217;s got enough momentum going right now that it may not need another Steve Jobs in order to continue growing (in the short term, at least). Here&#8217;s a look at Tim Cook, Apple&#8217;s new CEO. Who Is Tim Cook? Tim Cook grew up in Robertsdale, Alabama and attended Auburn University, where he received a degree in Industrial Engineering in 1982, followed by an MBA from Duke in 1988. Prior to joining Apple, Cook spent 12 years at IBM before being hired by Compaq as a vice president. His stint at Compaq lasted just six short months before Cook joined Apple in 1998, hired personally by Steve Jobs &#8220;to streamline the company&#8217;s jumbled manufacturing and distribution operations,&#8221; according to a 2009 TIME profile. Cook was promoted to Apple COO in 2007. Like Steve Jobs, Cook takes $1 in yearly salary. He reportedly received a $5 million bonus last year as a thank-you for filling in for Jobs during 2009, plus another $52.3 million in stock. Cook also sits on the board at Nike. Cook&#8217;s appointment as Jobs&#8217; successor comes as little surprise based on his past experience of filling in during Jobs&#8217; previous medical leaves, and the fact that he&#8217;s been handling day to day operations at Apple since 2005. An Apple GM told Wired in 2009: &#8220;Tim runs Apple, and he has been running Apple for a long time now. Steve is the face of the company and very involved with<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=techland.time.com&#038;blog=5290478&#038;post=94835&#038;subd=timenerdworld&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	<primary_category>Business</primary_category><primary_category_link>http://techland.time.com/category/news/business/</primary_category_link>
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			<media:title type="html">daamoth</media:title>
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		<title>End of an Era: Apple&#8217;s Steve Jobs Steps Down, Tim Cook Steps Up</title>
		<link>http://techland.time.com/2011/08/24/end-of-an-era-apples-steve-jobs-steps-down-tim-cook-steps-up/</link>
		<comments>http://techland.time.com/2011/08/24/end-of-an-era-apples-steve-jobs-steps-down-tim-cook-steps-up/#comments</comments>
		<pubDate>Thu, 25 Aug 2011 01:08:44 +0000</pubDate>
		<dc:creator>Matt Peckham</dc:creator>
				<category><![CDATA[Apple]]></category>
		<category><![CDATA[Business]]></category>
		<category><![CDATA[News]]></category>
		<category><![CDATA[breaking]]></category>
		<category><![CDATA[resignation]]></category>
		<category><![CDATA[steve jobs]]></category>
		<category><![CDATA[tim cook]]></category>

		<guid isPermaLink="false">http://techland.time.com/?p=94827</guid>
		<description><![CDATA[And just like that, Steve Jobs has stepped down from his throne as CEO of Apple and handed the scepter to the current chief operating officer, Tim Cook. You can&#8217;t say no one saw it coming. Jobs has been on a medical leave of absence since January 17, 2011 for undisclosed reasons (he had a liver transplant in April 2009 after battling pancreatic cancer for years). Cook&#8217;s been with Apple since 1998, a former IBM guy who&#8217;s been tagged as the heir apparent for years, filling in each time Jobs took a medical leave of absence and handling day to day operations since 2005. And Cook&#8217;s company positioning has been mostly good news for Apple: Each time he grabs the wheel, Apple&#8217;s stock goes up (Apple&#8217;s stock was down 5% in after hours trading, but that&#8217;s really no surprise, given the magnitude of this announcement). (MORE: Steve Jobs Resigns As Apple CEO, Will Become Chairman) No, this doesn&#8217;t mean Jobs is quitting Apple. He&#8217;s simply descending from Apple&#8217;s loftiest heights and requesting that he be allowed to serve &#8220;as Chairman of the Board, director and Apple employee.&#8221; In fact Apple&#8217;s already obliged. The company moved immediately to name Cook as CEO, per Jobs&#8217; wishes, and elected Jobs to the chairman position he requested. So yes, for reasons presumably health-related (the endless speculation continues), the close of another era&#8217;s at hand. The first kicked off all the way back in 1976, when Jobs, 21, and Steve Wozniak, 26, founded Apple. Just about anyone in their late thirties today probably remembers the Apple II (released in 1977), the first home &#8220;personal computer&#8221; with color graphics, a staple in school classrooms for years. And in 1984, we tuned into Super Bowl XVIII and said hello to the Macintosh (remember the hurtling sledgehammer?), the computer that wore a smiley face before turning them sideways in instant messaging clients was hip. You could have one with a generous (in 1984) 512K for a bargain $3,195. And then things went strangely south for Jobs and Apple. Jobs had tapped<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=techland.time.com&#038;blog=5290478&#038;post=94827&#038;subd=timenerdworld&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	<primary_category>Business</primary_category><primary_category_link>http://techland.time.com/category/news/business/</primary_category_link>
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			<media:title type="html">mattpeckham</media:title>
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		<title>Steve Jobs Resigns As Apple CEO, Will Become Chairman</title>
		<link>http://techland.time.com/2011/08/24/steve-jobs-resigns-as-apple-ceo/</link>
		<comments>http://techland.time.com/2011/08/24/steve-jobs-resigns-as-apple-ceo/#comments</comments>
		<pubDate>Wed, 24 Aug 2011 23:09:43 +0000</pubDate>
		<dc:creator>Jared Newman</dc:creator>
				<category><![CDATA[Apple]]></category>
		<category><![CDATA[Business]]></category>
		<category><![CDATA[breaking]]></category>
		<category><![CDATA[resignation]]></category>
		<category><![CDATA[steve jobs]]></category>
		<category><![CDATA[tim cook]]></category>

		<guid isPermaLink="false">http://techland.time.com/?p=94818</guid>
		<description><![CDATA[Steve Jobs has resigned as chief executive officer of Apple. The reason is presumably health-related—Jobs went on indefinite medical leave in January—but neither Jobs nor Apple gave specifics in their statements. Tim Cook, Apple&#8217;s chief operating officer, will replace Jobs as CEO, while Jobs will serve as chairman. Cook was already handling day-to-day operations during Jobs&#8217; leave of absence. Jobs is stepping down during the best of times for Apple. Its iPhone is the most profitable smartphone on the market, and its iPad dominates the tablet market. Apple&#8217;s redesigned MacBook Air laptops have also proven successful, prompting PC makers to scramble on their own ultra-thin designs. (MORE: Can Tim Cook Keep Apple Afloat In Steve Jobs&#8217; Absence?) Below is Steve Jobs&#8217; statement in full: To the Apple Board of Directors and the Apple Community: 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. I hereby resign as CEO of Apple. I would like to serve, if the Board sees fit, as Chairman of the Board, director and Apple employee. As far as my successor goes, I strongly recommend that we execute our succession plan and name Tim Cook as CEO of Apple. I believe Apple’s brightest and most innovative days are ahead of it. And I look forward to watching and contributing to its success in a new role. I have made some of the best friends of my life at Apple, and I thank you all for the many years of being able to work alongside you. Steve And here&#8217;s Apple&#8217;s press release: Apple’s Board of Directors today announced that Steve Jobs has resigned as Chief Executive Officer, and the Board has named Tim Cook, previously Apple’s Chief Operating Officer, as the company’s new CEO. Jobs has been elected Chairman of the Board and Cook will join the Board, effective immediately. “Steve’s extraordinary vision and leadership saved Apple and guided it to its position as<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=techland.time.com&#038;blog=5290478&#038;post=94818&#038;subd=timenerdworld&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	<primary_category>Business</primary_category><primary_category_link>http://techland.time.com/category/news/business/</primary_category_link>
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			<media:title type="html">Jared Newman</media:title>
		</media:content>
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