Steve Jobs resigns as Apple CEO

Steve Jobs, the driving force behind some of Apple's most iconic products, has resigned as CEO of the company, effective immediately. Jobs made the announcement in a press release to the Apple Board of Directors Wednesday afternoon saying he could "no longer meet my duties and expectations as Apple's CEO." Current Apple COO Tim Cook has been named as Jobs' successor and Jobs has been elected board chairman. "I believe Apple's brightest and most innovative days are ahead of it," Jobs said in the statement. "And I look forward to watching and contributing to its success in a new role." Apple declined to comment on the annoucement beyond announcing that they had honored Jobs' request to name Cook as CEO. Several tech analysts have questioned how the announcement relates to Jobs' health struggles. Jobs' has been battling pancreatic cancer since 2004 and received a liver transplant in 2009. He took his third medical leave at the beginning of this year.