BREAKING: Steve Jobs resigns as CEO of Apple

Reuters reports: Silicon Valley legend Steve Jobs resigned as chief executive of Apple, Inc. today in a stunning move at the technology giant he co-founded in a garage.

The 55-year-old Apple co-founder and pancreatic cancer survivor has been on medical leave for an undisclosed condition since January 17.

Apple said Steve Jobs has been elected chairman and Tim Cook has been elected CEO.

Here is Jobs' letter to the Apple board of directors:
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.

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