Steve Jobs Resigns as CEO of APPLE

Steve Jobs has resigned as Apple CEO and the company has named former Apple Chief Operating Officer Tim Cook to replace him.

"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," Jobs said in a letter addressed "to the Apple Board of Directors and the Apple Community."

Jobs's letter sais he would like to continue serving as Apple's chairman and recommended Tim Cook as his successor as CEO. "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," Jobs wrote. "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."

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