Steve Jobs resigns as Apple’s CEO

Steve JobsSteve Jobs has stepped down as Apple (s aapl) CEO, according to a letter released by the company in which Jobs says he wants to remain as chairman of the board for Apple, as well as a director and employee of the company.

Jobs has been technically on leave from day-to-day duties at Apple since January 17 of this year, his second major absence related to illness. The departing CEO says in his letter that he has unfortunately reached a point where he can’t continue to “meet [his] duties and expectations as Apple’s CEO,” and “strongly recommend[s]” that Tim Cook take over as CEO of Apple, something he says is part of the company’s succession plan, the details of which have been the subject of some debate.

In closing, Jobs says he believes “Apple’s brightest and most innovative days are ahead of it,” and he hopes to continue to contribute to the company “in a new role.”

In a separate press release, Apple confirms that Jobs will remain as chairman of the board, and Tim Cook will take over CEO duties.

It’s definitely a sad day for Apple fans, but at least Jobs is remaining on board in some capacity, and Tim Cook is an able replacement. We’ll have more for you as this story develops.