Steve Jobs Resigns as Apple CEO

CNN announced a few minutes ago that they have got confirmation that Steve Jobs has resigned as the CEO of Apple and recommended Tim Cook as the new CEO of the company.

He has expressed that, should the board see fit, he would like to remain on as Chairman of the Board. In a press release to the Apple Board of Directors and the Apple community, Steve Jobs wrote:

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.