Steve Jobs resigns as CEO, named chairman

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SAN FRANCISCO (Reuters) - 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.

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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 Steve Jobs has been elected chairman and Tim Cook has been elected CEO.

(Reporting by Poornima Gupta; Editing by Phil Berlowitz)