Steve Jobs resigns as Apple chief executive

Steve Jobs has resigned as chief executive officer of Apple. Tim Cook will replace him, as Jobs becomes chair of the board.
Written by Zack Whittaker, Contributor

Steve Jobs has resigned from Apple as the chief-executive of the company.

Released earlier this evening, a press release from Jobs to the board of directors to the Apple community announces his leaving:

PRESS RELEASE: Letter from Steve Jobs

August 24, 2011 -- 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."

Jobs did not directly cite reasons as to his resignation, but it is suspected that he resigned today as a result of his ongoing ill health.

Jobs has been on medical leave since January this year. Tim Cook, the chief operating officer, took the place of Jobs running day-to-day operations, while Jobs would remain involved in major strategic decisions at the company.

The former chief-executive will be taking a chairman's role of the company, and will still play a part of the wider Apple strategy.

Most recently, Jobs presented WWDC 2011 in California, which announced the next-generation of Apple products. Included in the keynote was Mac OS X Lion, iOS 5 as well as its new cloud venture, iCloud.

It is expected that Cook will continue in his current position as acting chief executive -- as the succession plan dictates.

More analysis and insight will follow across ZDNet soon.

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