Steve Jobs, co-founder and two-time CEO of Apple, offered his resignation to the company’s board on Wednesday.

“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,” he wrote. “Unfortunately, that day has come.”

Steve Jobs has been in poor health for quite some time unfortunately. In January, he declared that he would be taking a medical leave of nonattendance from the company. He came back to the public limelight in March to assist the launch of iPad 2.

Steve Jobs recommended the company’s board to “implement our progression plan” by naming Tim Cook to replace him as new CEO. Tim Cook, previously the COO of the Apple, has been standing in for Steve Jobs since January and was extensively tipped to be his descendant. Tim Cook also stood in for Steve Jobs throughout his session with pancreatic cancer in early 2004.

“The Board has absolute assurance that Tim is the correct personality to be our next CEO,” as said by one of the board member Art Levinson.

“I believe Apple’s brightest and most innovative days are ahead of it,” Steve Jobs wrote in his resignation letter to the Apple board. “I look forward to watching and contributing to its success in a new role.”

Jobs will not be parting the company overall, and the move was evidently well-intended in advance. He has been chosen as the chairman of the board, Apple said Wednesday and Tim Cook will be joining the board instantly

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John Laster is a technical news junkie and Founder of TechieApps. He loves everything about digital world, technologies, social media and gadgets and has been prophetic in identifying the best ways to leverage and harness such news to drive sales growth for companies ranging from startups to huge organizations.

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