Steve Jobs' Leave Of Absence, Tim Cook Taking Over Day-To-Day Operations (VIDEO)

Apple Inc.'s CEO Steve Jobs says he is taking a medical leave of absence until the end of June.

Jobs told employees in an e-mail that his health issues are more complex than he thought.

Last week, Jobs announced he had a hormone deficiency that had caused him to dramatically lose weight.

The photo below shows how much Jobs' appearance has changed:

Apple's chief operating officer, Tim Cook, will take over Jobs' responsibilities while he is on leave.

Read all about Tim Cook here.

Watch video of the breaking news announcement from CNBC:

See the letter from Steve Jobs to Apple staff below:

Team,

Story continues below

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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

Jobs references a letter he sent to staff a week ago about his health (January 5th). See the letter he sent below:

Dear Apple Community,

For the first time in a decade, I'm getting to spend the holiday season with my family, rather than intensely preparing for a Macworld keynote.

Unfortunately, my decision to have Phil deliver the Macworld keynote set off another flurry of rumors about my health, with some even publishing stories of me on my deathbed.

I've decided to share something very personal with the Apple community so that we can all relax and enjoy the show tomorrow.

As many of you know, I have been losing weight throughout 2008. The reason has been a mystery to me and my doctors. A few weeks ago, I decided that getting to the root cause of this and reversing it needed to become my #1 priority.

Fortunately, after further testing, my doctors think they have found the cause--a hormone imbalance that has been "robbing" me of the proteins my body needs to be healthy. Sophisticated blood tests have confirmed this diagnosis.

The remedy for this nutritional problem is relatively simple and straightforward, and I've already begun treatment. But, just like I didn't lose this much weight and body mass in a week or a month, my doctors expect it will take me until late this Spring to regain it. I will continue as Apple's CEO during my recovery.

I have given more than my all to Apple for the past 11 years now. I will be the first one to step up and tell our Board of Directors if I can no longer continue to fulfill my duties as Apple's CEO. I hope the Apple community will support me in my recovery and know that I will always put what is best for Apple first.

So now I've said more than I wanted to say, and all that I am going to say, about this.

Steve

Comments

[NotYourGirlfriend]

I would be surprised if Job's medical leave of absence does not extend far beyond June.

All the best to him.

[AlwaysaLiberal]

Take care Steve Jobs. You are in my thoughts.

[enlightenedrogue]

I hope that all AAPL shareholders remember that Steve Jobs helped create teh company that has made you long term stockholders a TON of money ( if you have been in since the beginning ) and singlehandedly
revolutionized the electronic consumer products industry. Apple has brought on in recent months, some of the best minds in industry to help it move forward.

Illness is something that any rational person would fear regardless of their station in life.

I keep Steve Jobs in my thoughts and prayers and hope that Apple Computer becomes a stronger, better managed company having to work around this most unfortunate situation. Remember this type of thing does happen to companies of all sizes and situations across the US every day. The smart folks who
" pick up the ball and run with it " make sure that they survive and flourish.

Giva Apple management a chance !

[silke1]

Any intelligent person could look at him and see how gaunt and unhealthy he is. Pancreatic cancer is very, very serious.

[BlueZoo]

When Jobs came out with the "hormonal" problem, my first words were "I don't buy it!" Less than 4% of pancreatic cancer patients survive even five years and he is knocking on that five year door. Jobs has had the luxury of five years to fix the vaccum in Apple management that his controlling nature has created and he hasn't done it. According to his inner circle, he has been in total denial about his illness and is now having to face the prospect of dying. There is no question he's a brilliant man but he has serious management style issues that are costing Apple shareholders and investors right now. btw: The Woz wrote the software for Apple I and many of the ensuing products. Woz was the brains and Jobs was the businessman; however, Woz left Apple and started enjoying his life. I wish Jobs had done the same and wasn't facing his mortality but I also wish he had thought more about the company he helped create and less about himself.

[dr-steve-pesyk]

I would hope that Apple is not a CEO-based company.
The N.Y. Times best-selling book, "Good to Great", by Jim Collins,
compiles some 20,000 research hours into companies which made the
move to greatness.
And some companies are unfortunately leader-based.
And when the CEO leaves ...
Apple has such great potential to expand into the cutting-edge area of
abstract research, that Steve Jobs should stay on in a consulting capacity.

That would be a safe position for all.

[MSaxe]

We all need this guy around to show us how technology should be done. Best of health to you.

[Amennyc]

Hope Steve got "Apple Care".

[tmo7734]

The best and worse thing that happened to Apple was Steve Jobs. Jobs IS Apple in every sense of the word. He drives the product direction an design; heck, he even reviews copy for ads and brochures. While his health was fine, that management model worked for the company. (He drove his employees crazy, but that's another story.). No one can deny the creative design and beauty of Apple products. The problem with Job's control and power is that it has created a management environment loaded with "yes men" and bean counters who, by their nature, aren't known to create cool products. As a result, the creativity that we've come to expect from Apple will flounder until (and unless) Steve Jobs returns.

[TFlint]

It all has to do with the price of Apple stock. For the past 2 years hedge fund vultures have been controlling AAPL by spreading rumors about Jobs' health. So the two must be separated.
1. Announce a non-fatal illness.
2. Eliminate Jobs' most public venue, MacWorld.
3. Show that Apple is not a one man company by putting other Apple execs on stage.
3. Wait for a day when the stock market is expected to plunge, then announce Jobs' leave of absence at a time when ALL stocks are crashing, thus avoiding a drastic drop in AAPL.
4. Six months later, announce Jobs' retirement.

[ihaverights75]

The SEC and the lawyers are going to be all over this. What the board of directors did is criminal.

[jtmoney]

Hope the best for him. Yes it says it is a 6 month leave of absense. But they have also been publically refuting how ill Mr Jobs is. And now with this you have to wonder if it is only 6 months or for how long it really is.

[ReasonBased]

Who are you all PRAYING to?

It annoys me that each time something random and terrible like this happens people say they will PRAY. TO WHOM? To the god that created cancer? (remember, the bible says god created EVERYTHING) or to the god that is too saddistic to do anything about it, supposedly being all-powerful and all-knowing...

That being said, my thoughts are with his family.

[milo h minderbinder]

Does this site EVER get headlines right?

He is NOT "stepping down", he's taking a six month leave of absence.

You guys need to get your facts straight, this site will NEVER be taken seriously with headlines that range from exaggerated tabloid to flat out wrong.

[jtmoney]

they got you looking though, right?

[Opt1musPr1me]

Unfortunately, i think this is Jobs' long goodbye to the company he re-invented and turned into an iconic American brand. I think this period will be used to vet new potential CEOs which will be followed by his official stepping down which i think will be best for him. His health is more important. My prayers to you and your family Mr. Jobs.

[AwShucks]

Be well and prayers go out to you and your family. You have taken the wonderful talent that God gave you and did much with it. Now you are right to take time and take care of that body that God has given you.