With Steve Jobs's Resignation, Apple Picks Tim Cook

The new CEO of Apple is Tim Cook, a man outed as gay who many expected would take over the job if Steve Jobs ever had to resign, as he did today.

The company said the switch was made during a meeting of the board of directors and that Jobs had specifically advocated for Cook as his replacement. Cook had been chief operating officer, overseeing sales, operations and the supply chain.

"The board has complete confidence that Tim is the right person to be our next CEO," said Art Levinson, chairman of Genentech, on behalf of Apple's board in a statement. "Tim's 13 years of service to Apple have been marked by outstanding performance, and he has demonstrated remarkable talent and sound judgment in everything he does."

Jobs has faced recurring health issues that took him away from his work. As Cook's profile rose in the tech world as a possible replacement, Valleywagreported based on anonymous sources that Cook is gay and that his ascension would make him "by far, the most powerful openly gay executive in tech."

Only helping to solidify that perception, Out magazine named Cook as number 1 in its "Power 50" in May.

"While it is Jobs's prescience that has kept the Cupertino, Calif., company at the cutting edge of technology, it's Cook who made sure Apple could deliver as demand rocketed," Out wrote. "Leader-in-waiting? Most definitely."