NEWSFLASH – Steve Jobs Officially Resigns As CEO Of Apple Inc.

Steve Jobs Resigns From Apple Inc As CEO 8-24-11

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Silicon Valley legend Steve Jobs, who has been on medical leave for an undisclosed condition since Jan. 17, resigned as chief executive of Apple Wednesday, saying he could “no longer meet” the duties and expectations of the job.

Interim CEO Tim Cook was immediately elevated to CEO, while Jobs, 56, will stay on as chairman of the board.

“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,” Jobs said in a letter to “the Apple community” that was released by the company. “Unfortunately, that day has come.”