Apple co-founder Steve Jobs announced on Wednesday that he is no longer fit to serve as the company's chief executive officer, officially resigning from the position, which has been filled by Chief Operating Officer Tim Cook.

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Members of Apple's executive board have reportedly discussed succession plans with outside consultants in the event that Steve Jobs can no longer run the company, though Jobs himself has characterized details in a new report from The Wall Street Journal as "hogwash."

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A prominent federation of labor unions has voted against the reelection of Steve Jobs to the board of directors of the Walt Disney Co., while an influential shareholder advisory firm has questioned whether Jobs is fit to remain on the company's board.

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While investors attempt to strongarm Apple's board of directors into publicizing their CEO succession plan, a recent survey found that just 35 percent of companies have drafted such a plan.

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Concerns over the health of Apple Chief Executive Steve jobs has prompted Institutional Shareholder Services to support a shareholder proposal to require Apple to disclose a CEO succession plan.

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For the second time in two years, Apple Chief Executive Steve Jobs will take a medical leave of absence from his company, but the company co-founder will remain CEO and be involved in major strategic decisions, he said on Monday.

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Apple is opposing a shareholder proposal advocating a CEO succession plan for the company, while the VLC media player iOS app has reportedly been removed from the App Store over a licensing disagreement. Meanwhile, an Intel executive has revealed that his company tried unsuccessfully for a long time to get Microsoft to build a tablet operating system.

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Apple Chief Operating Officer Tim Cook earned a huge pay increase in 2010, thanks to cash bonuses and stock-based compensation, bringing his total earnings to more than $59 million, while CEO Steve Jobs kept his traditional $1 annual salary.

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The largest public pension in the U.S. is aggressively going after Apple with an advisory shareholder resolution that aims to change the company's board election policies.

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Apple on Wednesday announced that Dr. Ronald D. Sugar, former Chairman of the Board and CEO of Northrop Grumman Corporation, was appointed to the company's board of directors.

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Apple Board of Director member and Intuit Chairman Bill Campbell revealed in an interview that increased competition between Apple and Google forced him to choose between the two companies, eventually causing him to sever his ties to Google.

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Apple recently repositioned several of its board members to bring the company back into compliance with its own governance guidelines after the sudden death last month of long-time director Jerome York left a void in its leadership.

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Recently deceased Apple Board of Directors member Jerry York told The Wall Street Journal last year that he wished he had resigned after Apple co-founder Steve Jobs didn't publicly disclose his health issues.

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Apple on Thursday sadly announced the death of Board member Jerome B. (Jerry) York, who had been listed in critical condition in a Michigan hospital following a collapse at his home two nights ago.

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Former IBM chief financial officer and current Apple director Jerome York has been hospitalized in Pontiac, Michigan and is currently listed as being in critical condition.

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Andrea Jung, chief executive of Avon Products and the only woman on Apple's seven-person board of directors, will serve as the co-lead director at Thursday's shareholder meeting.

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Despite the fact that Google and Apple have been at odds of late as the two companies compete in more markets, Google Chief Executive Eric Schmidt said this week that he has a "special spot" for Apple in his heart.

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Google announced Monday that Dr. Arthur Levinson resigned from the company's board of directors, severing its last common link with Apple's own board.

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Google CEO Eric Schmidt denied that a federal investigation prompted his resignation from the Apple Board of directors; and a consortium of magazine publishers hope to create their own store to sell content on devices like Apple's rumored tablet.

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Following the departure of Google executive Eric Schmidt from the Apple Board of Directors, the company's governing body will reportedly convene next Tuesday to ponder a replacement.

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