Apple founder and CEO Steve Jobs has sent a message to everyone in the company today saying he is taking a medical leave of absence.
Here’s what the email actually said: “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.”
He says he will continue as CEO and will be involved in major decisions but has asked Tim Cook to be responsible for all day-to-day operations.
In late 2008 to mid-2009 Mr Jobs was absent from Apple for six months to have a liver transplant. It was part of the series of treatments he has undergone for pancreatic cancer.
He was first diagnosed as suffering from the cancer in 2004 and underwent surgery later that year to remove a tumour from his pancreas.
Lets hope Steve Jobs gets back to full health as soon a possible – as for many he is irreplaceable. But we have no doubt that Tim Cook, who will step in, will sail the good-ship Apple into calmer waters.
The market reacted poorly last time when he stood down on health grounds – and saw 7% decrease in their share price. American markets are closed today but expect a slump tomorrow when the market digests this news.