Jobs takes Leave of Absence from Apple

By Alex Nichols (Contributor) [?]

Published: January 22, 2009 and Updated: March 18, 2009
Original LA News Desk Content

Just a few weeks after publishing a letter saying his condition was improving, Steve Jobs has temporarily stepped down as the CEO of Apple. He cites that fact that his health problem has shown to be “more complex” than he thought. Apple has confirmed that Tim Cook, Apple’s Chief Operating Officer, will step in as the interim CEO until Jobs’ return in late June. Cook took command at Apple for two months in 2004 when Jobs was recovering from surgery to treat his pancreatic cancer. After Jobs came back as CEO, he rewarded Cook with the position of COO. Here is the text of the letter Steve Jobs sent to 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"

CNBC analyst Jim Goldman said his sources told him that “Steve Jobs is in serious denial” about his health. Some speculate that his cancer is returning, although Jobs and his doctors have stated that they believe Jobs has a hormone imbalance. Although Cook does not have Steve Jobs’ unmatchable charisma, he has the experience necessary to run a company.

The market seems to agree with Jobs’ pick of Cook, as Apple stock has fallen less than was predicted and less than the drop immediately following the Macworld Keynote. Although no groundbreaking announcements are expected while Cook runs Apple, both analysts and consumers show that they trust him to keep Apple afloat.

Read more stories in Computers and I.T.

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