Tim Cook: Most Powerful Gay

NON-inclusive workplaces and a lack of role models are two of the biggest challenges for gay people looking to get ahead in the corporate world.



Not for too much longer, hope diversity activists, following the appointment of Tim Cook as CEO of Apple.



Cook's rise to the top of the most valuable company in the world could well mean he has become the world's most powerful gay man.



Cook, who had been notoriously silent on his sexuality before being outed as gay earlier this year by tech media, was ranked number one in Out magazine’s Power 50 index in May, taking over the top spot from US talk show host Ellen Degeneres.



The 50-year-old engineer was noted as a "leader-in-waiting" after taking the CEO reins on numerous occasions while Jobs was on sick leave.



He joined Apple in 1998 and served as Chief Operating Officer responsible for the company's worldwide sales and operations.



He has been described in the past as the genius behind Jobs and a key to the success of Apple's operations. He will now be hailed as a role model for gay people in the corporate world.



Read more at http://www.heraldsun.com.au/business/the-worlds-most-powerful-gay-man-tim-cook/story-fn7j19iv-1226122000908

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Text of Steve Jobs resignation

Text of Apple Inc.'s announcement that Steve Jobs resigned as CEO:



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 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."



Jobs submitted his resignation to the board today and strongly recommended that the board implement its succession plan and name Tim Cook as CEO.

Steve Jobs Resigns as CEO of Apple - Stock drops nearly $20

Apple co-founder Steve Jobs has resigned as CEO, the company announced Wednesday.

Steve Jobs, who co-founded Apple (AAPL) in 1976, was ousted in 1985 and returned in 1996 to build it into the world's most valuable technology company, resigned Wednesday as CEO. He will remain as chairman of the board.

Most Apple watchers had assumed when Jobs took an open-ended medical leave in January that he would not be coming back as a full-time chief executive. But that didn't stop Wall Street from punishing the stock when the news broke. Having closed the day at $376.18, up $2.58 (0.69%), Apple fell nearly $20 (5.22%) in after-hours trading.

Image by DonkeyHotey via Flickr

Jobs' letter to the board and his fellow employees did not mention his health problems, but that was the clear subtext.

"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," he wrote. "Unfortunately, that day has come."

Ironically, Jobs has been feeling a bit better lately -- good enough to make regular visits to the office.

But he spent most of the day closeted with his board of directors, and for reasons that are still not clear it was decided that the day had come to make the long-expected announcement.

The recommendation that Tim Cook be named CEO is just a formality. As chief operating officer, Cook has been running the company for some time. (See The Genius Behind Steve Jobs.) [Update: Apple has confirmed that Cook is the new CEO.]



Read full text of Steve Jobs' letter of resignation.