Steve Jobs has resigned from his role as CEO of Apple. In a major bombshell, Jobs drafted a letter to the Board of Directors (which we have posted after the break) explaining that the time has come where he is no longer able to meet his duties and expectations as Apple CEO. It's truly the end of an era, as many see Apple and Steve Jobs as an inseparable pair. However, recent health problems have led to Jobs taking a few leaves of absence, most recently this past January. Many speculated that he wouldn't return from this latest leave, and now it has come true.

Steve Jobs has recommended that Tim Cook, who has been acting as CEO in his absence, be named as his permanent successor. Steve would like to act as Chairman of the Board, director, and Apple employee.

CUPERTINO, Calif.—(BUSINESS WIRE)— 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