Apple co-founder, Steve Jobs, has resigned as CEO of the technology giant after years of ill health. A hero for many IT professionals across the world, Jobs has been on medical leave for an undisclosed condition since 17 January.

The 56-year-old, who underwent a liver transplant following pancreatic cancer, said he could no longer meet his chief executive's duties and expectations. He will be replaced by chief operating officer Tim Cook.

The Silicon Valley legend will become chairman of the firm. In a letter to the board Jobs wrote: "I have always said if there ever came a day when I could no longer meet my duties and expectations as Apple's chief executive, I would be the first to let you know.

"Unfortunately, that day has come. I hereby resign as chief executive 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."

Apple shares fell 4.1 per cent in the secondary listing in Frankfurt, having dropped more than five per cent in after-market trading on New York's Nasdaq.

Read Jobs' letter of resignation here: http://www.apple.com/uk/pr/library/2011/08/24Letter-from-Steve-Jobs.html

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