( CNN ) -- Steve Jobs , who resigned as CEO of the world 's largest tech company late Wednesday , is often identified as the singular face of Apple -- the man who is the energy and creative spirit behind the company . But Apple is much more than just Steve Jobs . Jobs himself has said so in the past . `` Apple is an incredibly collaborative company , '' Jobs said in an onstage interview at a tech conference last year . `` We 're organized like a startup . We 're the biggest startup on the planet . '' Not everyone buys this argument , of course , and Apple stocks fell 5 % in after-hours trading on Wednesday after his resignation was announced in a letter . Jobs has been elected as Apple 's chairman , but some observers question how much he will be able to contribute due to health reasons . The 56-year-old went on a medical leave of absence earlier this year , his third time as CEO . At the AllThingsD tech event last year , Jobs boasted that Apple 's corporate structure does n't include committees , which is a common practice among big business for distributing the responsibility for strategy among key executives . A different person leads each hardware , software and business division , he said . `` Teamwork is dependent on trusting the other folks to come through with their part without watching them all the time , '' Jobs said at the time . `` We 're great at figuring out how to divide things up into these great teams that we have and all work on the same thing , touch bases frequently and bring it all together into a product . '' Furthermore , Apple has a succession plan in place . Tim Cook , the operations wizard who is replacing Jobs as CEO , already has proven himself an adept manager . Cook filled in as interim CEO during Jobs ' three medical leaves . Jobs announced his most recent absence in January , and Cook has taken over his duties since then . Apple has set business performance records during every quarter this year . In his resignation letter , Jobs wrote that he strongly recommended Cook 's appointment . `` I believe Apple 's brightest and most innovative days are ahead of it , '' Jobs wrote . `` And I look forward to watching and contributing to its success in a new role . '' `` Steve 's extraordinary vision and leadership saved Apple and guided it to its position as the world 's most innovative and valuable technology company , '' Art Levinson , an Apple board member , said in a statement , adding that the board `` has complete confidence that Tim is the right person to be our next CEO . '' The CEO of any company has an important role , but Apple is structured in a way where it 's less so , according to Jobs . Jobs ' influence touches practically all facets of the company , analysts say . In the onstage interview , Jobs described his role as having to meet with the various units and contribute ideas . But what features make it into the next iPhone or iPad is often determined by the people who are dedicated to working on their respective products , he said . `` If you want to hire great people and have them stay working for you , you have to let them make a lot of decisions , and you have to be run by ideas , not hierarchy , '' Jobs said . `` The best ideas have to win , otherwise good people do n't stay . '' At Apple , the good people Jobs is referring to are part of the `` top 100 , '' a group that convenes regularly at off-site locations to share ideas , according to a recent Fortune article . A smaller group of executives also meets weekly to discuss the business , Jobs said . `` We all meet for three hours once a week , and we talk about everything we 're doing , '' Jobs said . `` And there 's tremendous teamwork at the top of the company , which filters down to tremendous teamwork through the company . '' As Jobs ' managerial presence dwindles , Apple is in no immediate danger , because his thinking has been ingrained into many of the company 's 46,600 employees , industry analyst Tim Bajarin said in a statement . Apple outlines its product plans five years in advance and `` has a deep bench of executives who know how Steve Jobs thinks , what his vision is for the next decade and are more than capable , '' Bajarin wrote . Jobs and others have indicated that Apple is poised to continue producing popular products , and so most consumers wo n't notice a change , Sarah Rotman Epps , a Forrester Research analyst , said in a recent interview . `` I do n't think the average person cares what 's going on with Apple 's leader , '' she said . Apple is driven by `` core values , '' Jobs said last year , not by one man . `` We have the same values now , as we had then , '' he said . `` We 're a little more experienced , certainly beat-up , but the core values are the same . ''
Apple founder Steve Jobs says he is not the sole decision maker at Apple . Jobs resigns as CEO of Apple , appointing Tim Cook who is familiar with that role . Apple is organized in a way so that many people share responsibilities , Jobs says .