Breaking News: Steve Jobs resigns as CEO of Apple

No matter how you slice it, today marks the end of an era for Apple Inc. Steve Jobs has resigned as CEO.
Jobs isn’t going anywhere immediately though. He’s been elevated to chairman of the board so he’s likely to remain very much involved with the company.
Tim Cook, previously COO at Apple, has been named CEO.
Jobs submitted his resignation to the board today and strongly recommended his top deputy for the head job at what has become the second most valuable publicly-traded company in the world.
Cook’s move to CEO follows the board’s succession plan, and one that was widely expected whenever the day should come.
The news is sure to rattle the business world at large, but particularly the mobile industry, which has arguably seen one of the most active major news months in many years.
Jobs departure as CEO at a company that very much emits his personality and character should be tempered by the fact that he will be taking on a new role as chairman of the board, a previously unfilled position.
“Steve’s extraordinary vision and leadership saved Apple and guided it to its position as the world’s most innovative and valuable technology company,” said Art Levinson, chairman of Genentech, on behalf of Apple’s board. “Steve has made countless contributions to Apple’s success, and he has attracted and inspired Apple’s immensely creative employees and world class executive team. In his new role as chairman of the board, Steve will continue to serve Apple with his unique insights, creativity and inspiration.”
There is no official world on Steve Jobs’ health, but he has been through various stages and types of illness for sometime. He has consistently sought to maintain his privacy through his medical battles and there is no indication that will change anytime soon.
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