Steve Jobs’s Resignation Letter to the Apple Board of Directors
In a bit of news that managed to be both shocking and expected at the same time — we’ve all been waiting for this day, it had to come eventually — Steve Jobs resigned from his post as the CEO of Apple in a letter to his company’s board of directors. His note, brief but moving, reminded Apple watchers that, among his many talents, Jobs can write.
CUPERTINO, Calif.-August 24, 2011-To the Apple Board of Directors and the Apple Community:
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.
I hereby resign as CEO of Apple. air yeezy 2011 I would like to serve, if the Board sees fit, as Chairman of the Board, director and Apple employee.
As far as my successor goes, I strongly recommend that we execute our succession plan and name Tim Cook as CEO of Apple.
I believe Apple’s brightest and most innovative days are ahead of it. And I look forward to watching and contributing to its success in a new role.
I have made some of the best friends of my life at Apple, and I thank you all for the many years of being able to work alongside you.
Israel’s largest bank Leumi said on Wednesday it had reached a settlement with the trustees of Lehman Brothers in a suit in which Leumi was seeking to recoup $100 million from the failed investment bank.
Following its collapse in 2008, Lehman owed Leumi $100 million and the Bank of Israel filed a claim in U.S. Bankruptcy Court in Manhattan to recoup the funds.
Lehman countersued but the two sides have now reached a settlement and Leumi has received 210 million shekel ($58 million) from the sale of the Leumi-owned securities which Lehman had been holding.
Leumi filed the claim in 2009 in the case In Re: Lehman Brothers Holding Inc et al, U.S. Bankruptcy Court, Southern District of New York, No. 08-13555.
Brian Trust of Mayer Brown was listed on the claim for Leumi.
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