Apple CEO Steps Down

Steve Jobs, the creator of products such as the iPhone, has stepped down, saying he could no longer handle the job.

Posted: 08/24/2011 07:37 PM EDT

Steve Jobs, the creator of the iPhone, iPad and other devices that helped make Apple Inc. a technological leader, has resigned as the company’s CEO, saying he could no longer handle the job, The Associated Press reports.

 

On Wednesday, in a letter addressed to Apple's board and the "Apple community," Jobs wrote that he "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."

 

The announcement appears to be linked to an unspecified medical condition from January that forced Jobs to take an indefinite leave of absence from his position.

 

Over the past several years, Jobs has taken three medical sabbaticals. He had previously survived pancreatic cancer and received a liver transplant.

 

Apple’s chief operating officer, Tim Cook, has been named as CEO, the AP reports.

 

Jobs will stay on as board chairman for the company.

 

 

 

 

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