Steve Jobs

The iconic CEO of Apple Inc, Steve Jobs, who has been battling a debilitating form of cancer for some time now, has hung up his boots. This marks an end to his 14-year reign at a company which largely owes its phenomenal success to his relentless pursuit of thinking beyond the ordinary and constantly pushing the limit. The chosen one to succeed him is his right-hand man and the company's chief operating officer Tim Cook.[caption id="attachment_68995" align="alignleft" width="380" caption="Jobs, who revolutionised the technology arena with the iPhone in 2007, is perceived as the heart and soul of a company that started in a garage and is today neck-and-neck with Exxon Mobil. AFP"][/caption]With Jobs out of the picture, Apple will have to press itself harder to hold on to its numero uno position. If one goes by the track record, the company is expected to keep up the momentum.Cook may not be as popular Jobs, who with his signature blue jeans, black turtleneck and wire-rimmed glasses was the public face of Apple. Be it media events for iPhones, iPads or iPods, it was a one-man show, with Jobs taking the centre-stage all along.Though Jobs' health worsened over the years, his indomitable spirit saw him coming out of his leave twice this year to push products at such events: First, he rolled out the second version of Apple's iPad tablet computer in March. Then, in June, he resurfaced to show off Apple's iCloud music synching service.The immediacy of the resignation has caught most analysts off-guard, which was probaly a question of when rather than if. Not many feel that his exit would any way cast its shadow on Apple's fabled product-launch roadmap, which possibly includes a new iPhone in September and a new avatar of the iPad tablet in 2012.But the company's shares took a hit and still dived as much as 7 percent in after-hours trade after the industry icon, who has been on medical leave for an undisclosed condition since January 17, announced he will be replaced by heir apparent Cook. "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," he said in a brief letter announcing his resignation.Jobs, who revolutionised the technology arena with the iPhone in 2007, is perceived as the heart and soul of a company that started in a garage and is today neck-and-neck with Exxon Mobil in the race to become the largest US corporation.Jobs' appearance has often fuelled speculation about his health and his ability to continue at Apple. "I will say to investors: don't panic and remain calm, it's the right thing to do. Steve will be chairman and Cook is CEO," said BGC Financial analyst Colin Gillis.A college dropout, a Buddhist and a son of adoptive parents, Jobs started Apple Computer with friend Steve Wozniak in the Jobs family garage in Silicon Valley in the late 1970s. The company soon introduced the Apple 1 computer. But it was the Apple II that became a huge success and gave Apple its position as a critical player in the then-nascent PC industry, culminating in a 1980 IPO that made Jobs a multimillionaire.Despite the subsequent success of the Mac, Jobs' relationship with internal management soured, and in 1985 the board removed most of his powers and he left the company, selling all but one share of his Apple holdings. Apple's fortunes waned after that. However, its purchase of NeXT -- the computer company Jobs founded after leaving Apple -- in 1997 brought him back into the fold. Later that year, he became interim CEO and in 2000, the company dropped "interim" from his title.Analysts again expressed confidence in the Apple bench, headed by longtime company No. 2 and supply-chain maven Cook.