Apple's Steve Jobs
Apple's Steve Jobs stepped down as CEO of the company on Tuesday. REUTERS/Beck Diefenbach

Silicon Valley legend Steve Jobs on Wednesday 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 Jan. 17, 2011.

Apple said Steve Jobs has been elected Chairman and Tim Cook has been elected CEO.

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