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‘We are very sorry’: Apple cancels ‘Paypal for all’: CEO

The Apple executive who created PayPal in the late 1990s and was the company’s CEO from 1998 to 2004 has been fired, according to a new report.

Steve Jobs was replaced by Apple’s chief operating officer, Craig Federighi, at the end of last month, and Apple is now in the midst of a search for his replacement.

Jobs, who led Apple through the company crash of 2008, is credited with coining the term “PayPal for all” and leading the company to a market-leading $1 billion valuation.

“We are extremely sorry to announce that our CEO, Craig Carlsen, has been terminated from Apple’s Board of Directors,” Apple said in a statement on Monday.

“Craig has been an outstanding leader at Apple and we wish him all the best for the future.”

Jobs left Apple in October 2008 and began a career at Microsoft, where he oversaw the creation of the popular Windows operating system and eventually led the development of the mobile operating system.

Carlsen was appointed Apple’s CEO in February 2018 and has been in charge of the company since.

He joined Apple in 1997 as its president and chief operating engineer, and he took over the company from Jobs in October 2016.

Joshes family has not commented on the news, but he had previously been asked about the firing.

In September, the New York Times reported that he was under consideration for the post of US secretary of state, but his name was never brought up.

He has since been replaced by Rex Tillerson, who was confirmed as secretary of State in January.

Apple shares fell nearly 10% in early trading Monday, the first decline since the news broke.