be using the title "iCEO".[62]Jobs on stage at Macworld Conference & Expo, San Francisco, January 11, 2005The company subsequently branched out, introducing and improving upon other digital appliances. With the introduction of the iPod portable music player, iTunes digital music software, and the iTunes Store, the company made forays into consumer electronics and music distribution. On June 29, 2007, Apple entered the cellular phone business with the introduction of the iPhone, a multi-touch display cell phone, which also included the features of an iPod and, with its own mobile browser, revolutionized the mobile browsing scene. While stimulating innovation, Jobs also reminded his employees that "real artists ship".[63]Jobs was both admired and criticized for his consummate skill at persuasion and salesmanship, which has been dubbed the "reality distortion field" and was particularly evident during his keynote speeches (colloquially known as "Stevenotes") at Macworld Expos and at Apple Worldwide Developers Conferences. In 2005, Jobs responded to criticism of Apple's poor recycling programs for e-waste in the US by lashing out at environmental and other advocates at Apple's Annual Meeting in Cupertino in April. A few weeks later, Apple announced it would take back iPods for free at its retail stores. The Computer TakeBack Campaign responded by flying a banner from a plane over the Stanford University graduation at which Jobs was the commencement speaker.[21] The banner read "Steve, don't be a mini-playerrecycle all e-waste".In 2006, he further expanded Apple's recycling programs to any US customer who buys a new Mac. This program includes shipping and "environmentally friendly disposal" of their old systems.[64] ResignationIn August 2011, Jobs resigned as CEO of Apple, but remained with the company as chairman of the company's board.[65][66] Hours after the announcement, Apple Inc. (AAPL) shares dropped five percent in after-hours trading.[67] This relatively small drop, when considering the importance of Jobs to Apple, was associated with the fact that his health had been in the news for several years, and he had been on medical leave since January 2011.[68] It was believed, according to Forbes, that the impact would be felt in a negative way beyond Apple, including at The Walt Disney Company where Jobs served as director.[69] In after-hours trading on the day of the announcement, Walt Disney Co. (DIS) shares dropped 1.5 percent.[70] Business life WealthJobs earned only $1 a year as CEO of Apple,[71] but held 5.426 million Apple shares, as well as 138 million shares in Disney (which he received in exchange for Disney's acquisition of Pixar).[72] Jobs quipped that the $1 per annum he was paid by Apple was based on attending one meeting for 50 cents while the other 50 cents was based on his performance.[73] Forbes estimated his net wealth at $8.3 billion in 2010, making him the 42nd wealthiest American.[74] Stock options backdating issueSteve Jobs and Bill Gates at the fifth D: All Things Digital conference (D5) in 2007In 2001, Jobs was granted stock options in the amount of 7.5 million shares of Apple with an exercise price of $18.30. It was alleged that the options had been backdated, and that