Apple CEO, Steve Jobs, takes medical leave. Tim Cook in charge.

by Klaus on January 17, 2011

in Apple, Tech News

BusinessWire has posted a message sent from Steve Jobs to all Apple employees, indicating that he will be taking a medical leave of absence to focus on his health. There’s no mentioning of how long he’s going to be away but he will still be involved in major strategic decisions, though Tim Cook will run the company on a daily basis as he did the last time when Steve Jobs was away for about 6 months due to his health as well.

Following the bad news, the Apple stock fell 8% in Germany. The stock markets in the US are closed today. I’m sure it’s not by accident that Apple has released this statement on a day where NASDAQ is not trading, hopefully investors will now have some time to think this through rather than panic, causing the stock to fall as much as it did in Germany.

I hope that Steve will still be the one presenting iPad 2 and iPhone 5 to us in the near future. Either way, I wish Steve a rapid recovery!

Team,

At my request, the board of directors has granted me a medical leave of absence so I can focus on my health. I will continue as CEO and be involved in major strategic decisions for the company.

I have asked Tim Cook to be responsible for all of Apple’s day to day operations. I have great confidence that Tim and the rest of the executive management team will do a terrific job executing the exciting plans we have in place for 2011.

I love Apple so much and hope to be back as soon as I can. In the meantime, my family and I would deeply appreciate respect for our privacy.

Steve

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{ 6 comments… read them below or add one }

Ron January 18, 2011 at 03:42

This is a big news and issue at business community and Apple supporters out there. I think, follow up news regarding this one will come out anytime soon.
Ron recently posted… Video Game Testing Jobs

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Josiah January 18, 2011 at 19:19

Interesting. I’m sure it won’t have any effect as far as sales. I do want Steve Jobs to announce the iPhone 5 and iPad 2 though!

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TJ McDowell January 20, 2011 at 15:08

I was reading today that stock did end up falling in the US too. I wonder if the same thing would happen if Bill Gates got sick. Honestly, I don’t think it would. It seems like Apple users have a definite connection with Steve Jobs though – way more than Microsoft users have a connection to Bill Gates.
TJ McDowell recently posted… Advantages To Being A Part-Time Photographer

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Klaus January 21, 2011 at 09:37

Actually Bill Gates stepped down as CEO of Microsoft in 2000 to become a chairman. In 2008 he went from full-time to part-time.

Steve Ballmer is the “head of Microsoft” at the moment, but I think when he decides to step down, the stock will double-up 😀

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TJ McDowell January 21, 2011 at 14:27

Wow, I guess I missed that whole announcement. I agree though that when he steps down stocks may actually go up.

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Mike January 21, 2011 at 13:42

I think this can help apple with its own strategies new brains will show some thing.

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