Apple Chairman, Former CEO Steve Jobs Has Died

• OCTOBER 5, 2011, 9:10 P.M. ET

--Co-founder and Chairman of tech giant seen as driving force behind company's rise

--Jobs stepped down as CEO in August amid battle with cancer

--CEO Cook says company lost "a visionary and creative genius"

(Updates with reaction from others, beginning in paragraph seven, and details about Apple's stock, beginning in paragraph 13.)

     DOW JONES NEWSWIRES   

Apple Inc. (AAPL) said Chairman and former Chief Executive Steve Jobs died Wednesday.

Jobs had suffered a long battle with pancreatic cancer.

On Wednesday, Chief Executive Tim Cook said the company had lost "a visionary and creative genius."

"Steve leaves behind a company that only he could have built, and his spirit will forever be the foundation of Apple," he said.

The news comes after Jobs announced his resignation in August and recommended Cook, the company's then-chief operating officer, to be his successor. Jobs said at the time that he could no longer meet the "duties and expectations as Apple's CEO."

On Wednesday, Jobs's family asked for privacy in a statement released through the company and said a website will soon be available for those wishing to leave tributes and memories. "We are thankful to the many people who have shared their wishes and prayers during the last year of Steve's illness," the statement said.

Microsoft Corp. (MSFT) co-founder Bill Gates expressed his condolences, saying it had "been an insanely great honor" to work with his long-time rival.

"The world rarely sees someone who has had the profound impact Steve has had, the effects of which will be felt for many generations to come," Gates said in a statement.

Mark Zuckerberg, Facebook Inc.'s Chief Executive, said on his Facebook page Wednesday, "Steve, thank you for being a mentor and a friend. Thanks for showing that what you build can change the world. I will miss you."

Michael Dell, CEO and founder Dell Inc. (DELL), said, "Today the world lost a visionary leader, the technology industry lost an iconic legend, and I lost a friend and fellow founder. The legacy of Steve Jobs will be remembered for generations to come. My thoughts and prayers go out to his family and to the Apple team."

Under Jobs's direction, Apple grew to become one of the world's most powerful technology companies through breakthrough hits like the iPod, iPhone and iPad.

A statement from Apple's board said the company co-founder's "brilliance, passion and energy were the source of countless innovations that enrich and improve all of our lives."

After-hours trading in Apple shares was halted before the news and hasn't restarted. The stock, up 31% over the past year, closed Wednesday at $378.25.

In past years, Apple shares would react to news of Jobs's health and appearance; however, more recently, his health developments have had less impact on the stock because of Apple's rapidly growing business and Jobs's seemingly worsening condition. For example, on the day after Jobs stepped down as CEO in August, the stock fell less than 1%.

-By Drew FitzGerald, Dow Jones Newswires; 212-416-2909; andrew.fitzgerald@dowjones.com

--George Stahl contributed to this report.

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