I think we all knew this day was coming but no one wanted to admit it, the great Steve Jobs resigned as chief executive of Apple Inc on Wednesday Aug. 24,2011. Jobs who has been on medical leave for an undisclosed condition since Jan. 17, said he could "no longer meet" the duties and expectations of the job. Interim CEO Tim Cook was immediately elevated to CEO, while Jobs, 56, will stay on as chairman of the board.

This will be a game changer for Apple as it's hard to picture the company without Steve Jobs as CEO, the man who built the company and took it from bad times to innovation and profits and now the biggest company in the world. The face of Apple will be changed and there will definitely always be something missing as no one cannot replace the Silicon Valley legend. This has already hit Apple with investors and on the stock market as the company's stock fell about 5 percent in after-hours trading after the news was announced, shortly after 3:40 p.m. PT (6:40 p.m. ET).

Here is more of Steve Job's statement about stepping down:
"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," Jobs said in a letter to "the Apple community" that was released by the company. "Unfortunately, that day has come."

We hope Apple will continue in the same direction that Steve Jobs has set it in and continue to innovate and create the amazing products that it is known for.