Steve Jobs resigns as CEO of Apple

Steve Jobs has handed in his resignation as Apple's CEO, the company which he co-founded. Tim Cook will be taking over as the new CEO of Apple, and Steve Jobs will stay on as Chairman to the Board.

Steve Jobs has been on leave from Apple for medical reasons, and has now resigned, however the reasons for his resignation are unknown.

Steve's resignation letter to the board of directors is as follows:

To the Apple Board of Directors and the Apple Community:

I have always said if there ever came a day when I could no longer meet my duties and expectations as Apple’s CEO, I would be the first to let you know. Unfortunately, that day has come.

I hereby resign as CEO of Apple. I would like to serve, if the Board sees fit, as Chairman of the Board, director and Apple employee.

As far as my successor goes, I strongly recommend that we execute our succession plan and name Tim Cook as CEO of Apple.

I believe Apple’s brightest and most innovative days are ahead of it. And I look forward to watching and contributing to its success in a new role.

I have made some of the best friends of my life at Apple, and I thank you all for the many years of being able to work alongside you.

Steve

The Board of Directors said that it has complete confidence in Tim Cook, who will be taking the role of CEO immediately.