Wednesday, January 14, 2009

Jobs Takes Medical Leave, Apple Stocks Hit Hard

Apple Inc. co-founder and CEO Steve Jobs said late today he is taking a medical leave of absence until the end of June, this just weeks after assuring investors and employees his recent weight loss was simply caused by a treatable hormone deficiency.

Apple stocks had been down as much as 3% during Wednesday's trading session and so far have dropped as much s 10% in after hours trading.

According to Apple CEO Steve Jobs today sent the following email to all Apple.
The letter also appears on the Apple site as a media advisory.


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.


We'd like to wish Mr Jobs a speedy recovery and sincerely hope this isn't a sign of a worsening health condition.

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