Tim Cook, appointed chief executive of today, following the resignation of Steve Jobs, has in the past been described as the “most powerful in Silicon Valley.” Although Mr Cook has never spoken publicly about his sexuality, he has long been described as gay and has never denied the claims.

via Pink News

The full text of Steve's resignation letter reads:

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 of the Board, director and Apple employee.

As far as my successor goes, I strongly recommend that we execute our succession plan and name 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 at Apple, and I thank you all for the many years of being able to work alongside you.

The last time Jobs stepped down, some bad hardware decisions were made. The AL, no and Display Port with no audio support, for example.

I know, it was due to happen soon, and it's the right thing for him to have done. He we go on to become chairman and he will have the opportunity to still be involved in the future of the company, but in all honest he has been the defacto CEO for a number of years. In truth other people have run and managed the office of the CEO while in focused on his health. With apple now as Americas most powerful company, the political pressure on the leadership of the corporation will intensify, to this end, they need to change a few things round in order to manage this, steve jobs taking up the role as chairman will allow him to become more statesman and better mange a firm figure hand in the company. What do you think?