News: Jobs Steps Down Due to Medical Leave

Posted on January 14, 2009

With the announcement last week that Steve Jobs was merely suffering a hormonal imbalance, it seems there is more to the story. About an hour ago, numerous sites, including CNBC are reporting that Jobs will be stepping aside to let Apple COO Tim Cook take over day-to-day operations until June. This was sent out in an email to Apple employees:

Team,

I am sure all of you saw my letter last week sharing something very personal with the Apple community. Unfortunately, the curiosity over my personal health continues to be a distraction not only for me and my family, but everyone else at Apple as well. In addition, during the past week I have learned that my health-related issues are more complex than I originally thought.

In order to take myself out of the limelight and focus on my health, and to allow everyone at Apple to focus on delivering extraordinary products, I have decided to take a medical leave of absence until the end of June.

I have asked Tim Cook to be responsible for Apple’s day to day operations, and I know he and the rest of the executive management team will do a great job. As CEO, I plan to remain involved in major strategic decisions while I am out. Our board of directors fully supports this plan.

I look forward to seeing all of you this summer.

Steve

Obviously, we (as well as numerous Apple fans and shareholders everywhere) are hoping for a speedy recovery, but many are already wondering—is this just another smokescreen? Will Jobs be back in June? It’s hard to say, but we will see how Apple fares without him. Let the speculation begin.

This post has been filed in News