SteveJobs Steve Jobs Resigns as Apples Chief Executive

Amid longstanding health issues, tech luminary Steve Jobs has resigned on Wednesday as Apple's chief executive. In a letter to the board that was released by the company, Jobs wrote: "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."  Jobs will become the chairman of the board, while well-regarded chief operating officer Tim Cook will succeed him as the chief executive.

SteveJobs Steve Jobs Resigns as Apples Chief Executive

The co-founder of Apple Inc., Steve Jobs has been credited as a visionary and the driving force behind a string of products that revolutionized the consumer-electronics industry. This includes the iPod portable media player, the iPhone smartphone and the iPad tablet, all of which have become a household name around most parts of the world. They have also spawned forth an inundation of i-copycats and created a burgeoning accessories market.  

Indeed, Apple briefly passed ExxonMobil this month as the world's largest company in terms of stock value. Jobs' departure has been hailed as by many, an end of an extraordinary run for the company. In reports and comments around the world, many have professed support for the company and the man, even as others mourned that Apple without Jobs will no longer be the same.

Jobs did not explicitly indicate his health as the reason, though it is widely known that he suffered from a rare form of pancreatic cancer in 2004 and had received a liver transplant in 2009. This means that Jobs not only have to battle cancer but face life-long organ-rejection treatments. The relative dearth of patients with Job's condition, however, means that there simply isn't sufficient data about long-term survival rates, reports Mercury News.

"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," Jobs wrote in his brief letter, concluding with. "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."

Source: Apple