Steve Jobs Resigns as Apple’s CEO

Steve Jobs has stepped down as Apple’s chief-executive officer. The company announced the news in a press release Wednesday.

The pancreatic cancer survivor has been on medical leave for an undisclosed condition since Jan. 17.

Tim Cook, the company’s Chief Operating Officer, has been standing in for Jobs during his leave and has been named the new CEO. Jobs has been named chairman.

Below is a note from the 55-year-old high-tech visionary to Apple’s board of directors:

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.