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Apple CEO Steve Jobs resigns

25 August 2011 04:15 (UTC +04:00)

Baku-APA. Apple CEO Steve Jobs, the heart and soul of the company he co-founded in a garage, announced on Wednesday his resignation from the computer technologies giant, APA reports quoting RIA Novosti.

"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," Jobs said in his letter of resignation.

Jobs, who reigned the company for 14 years, also said that he will be replaced by his long-time companion and acting CEO Tim Cook.

He did not specify the reasons for his sudden leave, but Appleâ€™s shares dropped by 7 percent some hours later after his announcement.

Jobs, 56, has been on an indefinite leave since mid-January due to medical reasons. He underwent an operation for pancreatic cancer in 2004 and received a liver transplant in early 2009. Since then he was finding it increasingly difficult to cope with his health and business problems.