Steve Jobs resigns as Apple CEO but named company chairman

by Walter Hamilton, Dawn Chmielewski and David Sarno -- Los Angeles Times

Steve Jobs, the visionary co-founder of Apple Inc. and driving force behind a string of products that revolutionized the consumer-electronics industry, stepped down as chief executive but was named chairman of the board, the company said late Wednesday.

His relinquishing of daily control had been widely anticipated since he took an extended medical leave earlier this year. Jobs, 56, had a liver transplant two years ago and underwent surgery for pancreatic cancer seven years ago.

"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," he wrote in a letter to the board Wednesday. "Unfortunately, that day has come."

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