BREAKING NEWS: STEVE JOBS STEPS ASIDE AS CEO OF APPLE, WILL STAY AS CHAIRMAN, TIM COOK TAKES OVER AS CEO
CUPERTINO -- Steve Jobs has stepped aside as Chief Executive Officer of Apple.Tim Cook will assume the position as company CEO.
Jobs will stay on as Chairman of The Board of Directors at Apple.
The news broke just after 3:30 Wednesday afternoon, with a report from Reuters.
Within seconds newsroom phone lines and internet communications were abuzz.
Rob Enderle, a technology industry analyst and head of The Enderle Group, speculates this is the beginning of a shift at Apple, a transition to a company where Jobs is not the fountainhead of Apple's great technological advances but the company will continue as one of the industry leaders of innovation.
Enderle says Jobs will have a continuing influence and specific personal imprint on Apple products for a period of the next two years. Enderle makes his prediction based on the rapid rate of innovation and advance of technology. He calls it a 'dissolving' over time.
