Jobs takes six months' sick leave

 

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By Stuart Turton

Posted on 15 Jan 2009 at 08:24

Steve Jobs is taking a medical leave of absence from Apple until the end of June, admitting the previously diagnosed "hormonal imbalance" had proved worse than initially thought.

Jobs revealed the plan in an open letter to employees, backtracking on earlier claims that he would remain at the helm throughout his treatment.

"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," Jobs writes in the letter.

"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."

Chief operating office Tim Cook will take responsibility for the day-to-day running of Apple, though Jobs claims he will remain involved in major strategic decisions. This is the second time Cook has stepped up to the plate in Jobs's absence, taking over the role first in 2004 when the CEO was diagnosed with pancreatic cancer.

He takes the job at a difficult time for Apple, which is currently grappling with a slowing product line and uncertain consumer spending.

Questions have also been raised about a succession plan for Jobs. Cook is considered the most likely candidate to take over should he not return, with some analysts speculating that the current handover is being seen a trial run for the COO. However, investors clearly aren't convinced, sending shares in the company tumbling 10% on the back of the announcement.

"Apple is more dependent on its CEO than most other companies," says Roger Kay of Endpoint Technologies. "Steve is a critical judge of the company's business, and that maestro role that he performs is what makes Apple great. But there is no maestro-in-training to take over Steve's role."