Steve Jobs has resigned from his role as CEO of Apple.
Jobs had already taken a step back from the company earlier this year, with reports citing health reasons, with COO Tim Cook taking an acting CEO role. Jobs had previously suffered from pancreatic cancer.
Tim Cook will now officially become CEO at Jobs' request. Jobs has requested to stay on as chairman of the board, a director and Apple employee.
Jobs is often cited as the visionary behind products like the iPod and iPhone and services like iTunes, with his focused management style demanding detailed refinements of device designs before they are ready for the public.
His letter to the Apple board and the 'Apple community' reads:
"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."