Steve Jobs
Jobs will become chairman, Tim Cook takes over as chief executive

Steve Jobs, who has been ill for some time, has resigned as chief executive of Apple and will be replaced by chief operating officer Tim Cook. Jobs will become chairman of the technology firm.

The 56-year-old founder of Apple underwent a liver transplant following pancreatic cancer, and has been on medical leave for an undisclosed condition since January 17th.

In his resignation letter to the Apple board, Job says: "I have always said if there ever came a day when I could no longer meet my duties and expectations as Apple's chief executive, I would be the first to let you know.

"Unfortunately, that day has come. I hereby resign as chief executive 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."

More after the break

Analysts say the move was not unexpected, and will have little impact on the day-to-day running of the company.

As we reported yesterday, the iPhone 5 is expected to be unveiled in October, alongside a cheaper version of the iPhone 4 for emerging markets.

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