Apple's iconic CEO, Steve Jobs, is resigning and has asked the company's board of directors to tap COO Tim Cook as his replacement.
The surprise announcement came Wednesday afternoon.
"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," Jobs said in a statement. "Unfortunately, that day has come."
Jobs has battled serious health issues for several years now and stepped away from day-to-day duties months ago.
Developing story. More to come.