Resignation of Steve Jobs has minimal effect on Apple

Apple Inc have announced that Steve Jobs is stepping down as CEO due to health issues. Jobs, who will remain involved with Apple as Chairman of the board, hands the CEO reins to Tim Cook. Although investors have shown some initial concern about Apple Inc’s future, Steve Jobs’ departure will have a minimal effect on Apple’s recent run of success.

According to Frost & Sullivan the two main reasons for the minimal effect are –

1) Apply Inc has been through this before: Steve Jobs’ health issues began in 2004 when he announced that he had a tumor in his pancreas. During his absence to have the tumor removed, Tim Cook headed the company. In 2009, Jobs’ health issues resurfaced, prompting a six month leave of absence. In his absence, Tim Cook headed the company. In January 2011, Jobs again announced health issues, leaving Apple Inc to the direction of Tim Cook and today, as Jobs steps down, the company is left in the capable hands of Tim Cook.

2) Steve Jobs will be an integral part of the company:When Steve Jobs stepped down as the CEO in 2004 and again in 2009, he stated that, he would remain involved in major strategic decisions of Apple Inc. Although the recent announcement is more long-term in nature, his strategic influence will remain through his new position as Chairman of the board. Thus, despite Steve Jobs’ recurring health issues over the recent past, Apple Inc have continued to grow, develop innovative devices and enjoy a loyal consumer following. Tim Cook has proven himself a capable leader and today’s announcement will have minimal effect on Apple’s progress.