Apple CEO Steve Jobs speaks at an Apple event at Apple headquarters in Cupertino, Calif., Wednesday, Oct. 20, 2010, announcing a new version of iLife, Apple Inc.'s programs for managing photos, editing videos and other tasks. (AP Photo/Tony Avelar) (AP)
Steve Jobs, Apple's CEO, takes medical leave of absence
The Apple CEO announced in an email to the company that he would be taking time off to focus on his health
Steve Jobs emailed Apple employees this morning to notify them that he would be taking a medical leave of absence, and COO Tim Cook would take over day-to-day operations. According to BusinessWire, the email read:
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.
The co-founder and CEO of Apple has struggled with health issues for the past couple of years and received a liver transplant in 2009.
After the announcement, the price of Apple's stock fell immediately.