It was announced today that Steve Jobs would step down as the CEO of Apple. In his letter to the board of directors, that can be read in full below, he appointed Tim Cook as his replacement.
"To the Apple Board of Directors and the Apple Community:
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. I believe Apple’s brightest and most innovative days are ahead of it. And I look forward to watching and contributing to its success in a new role. I have made some of the best friends of my life at Apple, and I thank you all for the many years of being able to work alongside you.
Steve"
In 2004 Jobs was diagnosed with pancreatic cancer, and since then has taken three separate leaves of absence in relation to his ongoing health issues. These health issues are more than likely the primary motivating factor to his stepping down as CEO.
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