Steve Jobs steps down as Apple CEO

He remains as chairman as Tim Cook takes over as CEO

The computing and electronics world rocked this week with the revelation that Apple's figurehead, Steve Jobs is to step down as the company's CEO.

Jobs has decided to call time on his 15-year reign as the CEO of Apple. Under his stewardship we have seen the launch of the iPod, the iPhone and the iPad which have helped Apple become the most valuable company in the world.

He released a statement saying: "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."

Tim Cook has been installed as the new CEO of Apple and Jobs will indeed remain as the chairman of the company.

Cook promised: "I am looking forward to the amazing opportunity of serving as CEO of the most innovative company in the world. I share Steve's optimism for Apple's bright future. I want you to be confident that Apple is not going to change. I cherish and celebrate Apple's unique principles and values. Steve built a company and culture that is unlike any other in the world and we are going to stay true to that - it is in our DNA. We are going to continue to make the best products in the world that delight our customers and make our employees incredibly proud of what they do."

Jobs has given no reason for him stepping down, however he has been struggling with illness since he was diagnosed with pancreatic cancer back in 2003 and had a liver transplant in 2009. He has rarely been seen in public this year and was rumoured to have been seeking treatment at the beginning of the year for cancer again.

Thanks Edge Online and Ars Technica.

E3 Trailer