(08-24) 16:30 PDT CUPERTINO--
Steve Jobs resigned as CEO of Apple on Wednesday, saying in a letter that he could no longer fulfill his duties as the leader of the company he co-founded.
Jobs will transition to a role as chairman of Apple's board. Tim Cook, who has led the company since Jobs stepped aside on medical leave earlier this year, will become CEO.
"I believe Apple's brightest and most innovative days are ahead of it," Jobs wrote in a letter to Apple's board of directors. "And I look forward to watching and contributing to its success in a new role."