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Steve Jobs has stepped down from his position as CEO of Apple.

“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,” the 55-year-old CEO said in his letter of resignation.

Steve will be replaced by Tim Cook, the company’s current COO. Jobs will become Apple’s chairman of the board of the directors.

Steve‘s health has often been in question after he received a liver transplant for pancreatic cancer in 2009.

Click inside to read Steve Jobs‘ full letter of resignation… More Here! »