Jobs steps down as Apple chief

SILICON Valley legend Steve Jobs last night resigned as chief executive of Apple Inc in a stunning move at the technology giant he co-founded in a garage.

The 55-year-old Apple co-founder and pancreatic cancer survivor has been on medical leave for an undisclosed condition since January 17.

Apple said Jobs has been elected chairman and Tim Cook has been elected chief executive. Cook had taken charge of day-to-day operations in Jobs’ absence.