Tech industry legend and one of the finest creative minds of a generation, Steve Jobs, has resigned as chief executive of Apple, arguing he can no longer meet his duties and expectations to the company.
Apple's shares were suspended before the announcement but soon after dived 7 per cent in after-hours trade on the news that one of Silicon Valley's most celebrated luminaries, who was the beloved visionary behind the iPod, iPhone, iPad and Mac products, was bowing out for good.
Jobs, 55, who has been on medical leave due to an undisclosed medical condition since January 17, said in a letter to the Apple board of directors and Apple community that Apple chief operating officer Tim Cook would be his successor.
The pancreatic cancer survivor, who co-founded Apple from a garage and brought the company back from the dead when industry figures including Dell founder Michael Dell were arguing it should be broken up and sold off, said he had maintained he would let people know if there ever came a day where he could no longer fulfil his duties as Apple's CEO.
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