Master of the Universe, Steve Jobs, Resigns as Head of Apple

Shocking/not-so-shocking news. Steve Jobs, the head (and the face and the body) of Apple, has resigned, effect immediately. Taking over is Tim Cook.

Jobs has been fighting much publicized health issues, starting with a rare form of pancreatic cancer which he survived. Analysts do not expect Jobs’ resignation to affect Apple’s planned release schedule of new products, including maybe a new iPhone and iPad.

Apple’s shares still dived as much as 7 per cent in after-hours trade after the industry icon, who has been on medical leave for an undisclosed condition since Jan. 17, announced he will be replaced by COO and heir apparent Cook (via Toronto Star).

“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’ shocking skinny appearance has had people concerned several times. Jobs looks eerily like the recently deceased Jack Layton (Canada’s Leader of the Opposition), who passed away Monday morning. Let’s hope for a better short (and long) term prognosis for Mr. Jobs.

So what does this mean for Apple? Will customers lose faith? Or will only the hard core fans ponder “What if Jobs had a handle on this product release?” I’m thinking a temporary setback, but long-term, this will be but a minor blip on Apple’s radar. For the sake of innovation, I hope that I am right.