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Steve Jobs Resigns

One week later

It's been one week and Apple's still around. Their stock didn't crash, iPhones and iPads are still available for purchase, and iOS betas have just kept coming.

Anyone want to take back their linkbait form last week yet?

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Apple offers Tim Cook 1,000,000 reasons to stay until 2021

In the 8-K filing following their top-level restructuring this week, Apple revealed that they were awarding new CEO Tim Cook quite the signing bonus:

In connection with Mr. Cook's appointment as Chief Executive Officer, the Board awarded Mr. Cook 1,000,000 restricted stock units. Fifty percent of the restricted stock units are scheduled to vest on each of August 24, 2016 and August 24, 2021, subject to Mr. Cook's continued employment with Apple through each such date.

As noted by MacRumors, that's worth almost $400 million at current prices. Half the stock can be divested in 5 years, the other half in 10 years, as long as Cook is still with Apple.

This would, of course, be in addition to his salary, options, and bonuses. (Last year those totaled $58 million.)

No word yet on the corporate jet...

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TiPb Asks: How do you feel about Apple without Steve Jobs as CEO

We spend a lot of time on last night's iPhone Live podcast talking about Apple now that Steve Jobs is no longer CEO -- an Apple with Tim Cook at the reigns. Now we want to know what you, the TiPb Nation, think.

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iPhone Live 167: Steve Jobs resigns

Rene, Georgia, and Seth discuss Steve Jobs resigning as CEO of Apple, becoming Chairman of the Board, Tim Cook taking over as CEO, what it means for Apple and for end users, for partners and for competitors. This is iPhone Live!

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End of Act Two

In resigning as CEO of Apple today, Steve Jobs takes on the role as Chairman of the Board. In that regard, tomorrow will likely be no different than yesterday. Not for Apple, not for us. Except it will be totally different. We'll still be able to buy iPhones and iPads, we'll still get [iOS 5](] and iPhone 5 this October, we'll still be delighted, and things will still be magical. They just won't be the same. Steve Jobs has ended the greatest Second Act in the history of a technology company, arguably of any modern business.

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Steve Jobs resigns as CEO of Apple, becomes Chairman of the Board, Tim Cook becomes new CEO

Apple has just announced that Steve Jobs has resigned as CEO, and will now take over as Chairman of the Board. Tim Cook, formerly COO, will replace Jobs as CEO and also join the board as a director.

“Steve’s extraordinary vision and leadership saved Apple and guided it to its position as the world’s most innovative and valuable technology company,” said Art Levinson, Chairman of Genentech, on behalf of Apple's Board. “Steve has made countless contributions to Apple’s success, and he has attracted and inspired Apple’s immensely creative employees and world class executive team. In his new role as Chairman of the Board, Steve will continue to serve Apple with his unique insights, creativity and inspiration.”

“The Board has complete confidence that Tim is the right person to be our next CEO,” added Levinson. “Tim’s 13 years of service to Apple have been marked by outstanding performance, and he has demonstrated remarkable talent and sound judgment in everything he does.”

Steve Jobs' letter to the board, after the break.

[Apple PR, Apple PR]

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