Steve Jobs resigned this afternoon as CEO of Apple. In an eight-sentence letter to the Apple board of directors and "the Apple community," Jobs indicated that he "could no longer meet [his] duties and expectations as Apple's CEO."

Jobs, who has battled pancreatic cancer and received a liver transplant, has been on medical leave since January of this year. Apple chief operating officer Tim Cook has filled in for him; Jobs, in his note, recommended Cook for the position permanently.

Here's the full text of Jobs's letter.

To the Apple Board of Directors and the Apple Community:

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. Unfortunately, that day has come.

I hereby resign as CEO of Apple. I would like to serve, if the Board sees fit, as Chairman of the Board, director and Apple employee.

As far as my successor goes, I strongly recommend that we execute our succession plan and name Tim Cook as CEO 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.

Steve