Breaking: Steve Jobs resigns. Tim Cook new Apple CEO

Steve Jobs, a remarkable man and a maverick CEO, resigned Wednesday from the top job at Apple, making way for Tim Cook, currently the companys COO. Jobs will take on the role of chairman of the company as he battles with his illness. Its an end of an era. This is his letter 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 Apples 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 Apples 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 and Apple said that Cook has been named the CEO and has joined the board. Steve is now the chairman of the board.

Steves extraordinary vision and leadership saved Apple and guided it to its position as the worlds most innovative and valuable technology company, said Art Levinson, Chairman of Genentech, on behalf of Apples Board. Steve has made countless contributions to Apples success, and he has attracted and inspired Apples 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 i! nsights, creativity and inspiration.

The Board has complete confidence that Tim is the right person to be our next CEO, added Levinson. Tims 13 years of service to Apple have been marked by outstanding performance, and he has demonstrated remarkable talent and sound judgment in everything he does. [Apple press release]

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