Apple's Steve Jobs Steps Down

Steve Jobs

Apple CEO Steve Jobs announced his resignation from that post today (8/24), and was elected chairman of the board of the technology giant. The company’s COO Tim Cook, who has been leading Apple during Jobs’ recurring medical leaves, will succeed Jobs as CEO according to the company’s official press release.

Jobs has been plagued with health issues in recent years following a 2004 fight with pancreatic cancer. However, there was no mention of his health in his resignation letter to the board (below). The tech visionary has been on medical leave since January, though he did appear briefly in public in March to launch the iPad2.

August 24, 2011

Letter from Steve Jobs

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

More here from the Wall Street Journal.