Steve Jobs resigns as Apple CEO, Tim Cook takes over

Apple co-founder Steve Jobs has resigned as the company's chief executive officer, but will stay as its chairman of the board. An Agence France Presse report via Yahoo! News said chief operating officer Tim Cook would take over as CEO.

Steve Jobs
The reason for Job's resignation was not given, but it must be related to his health condition as he has gone on medical leave.

According to the Cupertino, California-based company, Jobs submitted his resignation on Wednesday and urged the board to implement its succession plan and name Cook as his replacement.

Cook ran Apple when Jobs went on medical leave and has essentially been running day-to-day operations since early this year with the company racking up record revenue and profit, the report said.

Photo credit: Matt Yohe