Cook officially steps in as Jobs steps down from top job at Apple

Steve Jobs officially resigned from the CEO post at Apple on Wednesday, saying in a letter that the time had come when he could no longer meet the duties of the job. Jobs was diagnosed with cancer in 2004 and had been on his third medical leave of absence when he made the announcement; he'll remain with the company in the newly created position of chairman. Chief Operating Officer Tim Cook, who has been taking care of day-to-day operations while Jobs has been on leave, was named the new chief executive of the company.

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