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Apple Says Steve Jobs Resigning As CEO

SAN FRANCISCO (AP) -- Apple Inc. says Steve Jobs is resigning as CEO, effective immediately.

The company said Wednesday that Jobs will be replaced by Tim Cook, who was the company's chief operating officer.

It said Jobs has been elected as Apple's chairman.

(© Copyright 2011 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

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