Apple CEO Steve Jobs announced an immediate medical leave of absence in a memo to staff on Monday. The reasons for his absence are vague and Mr. Jobs, 55, offered up no official end-date.
"Team,
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."
Steve
As he did when Jobs took a medical leave two years ago, Apple COO Tim Cook will lead the company's day-to-day operations. Apple is scheduled to report earnings tomorrow. Although it's almost certain that Apple will not elaborate, as the company has not been forthcoming with Jobs' health details in the past.
The Wall Street Journal has posted a profile piece entitled "Who Is Time Cook?". The article is positioned as a quick refresher on the career of Apple's Chief Operating Officer. But that may not keep Wall Street speculators from punishing Apple's stock (AAPL) which closed at a record high of $348.48 on Friday.
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