Shortly after disclosing that a hormone imbalance condition was to blame for his recent noticeable weight loss, Apple has issued a statement saying that Steve Jobs is taking a leave of absence due to health reasons. Apparently, his previously-explained health problems are "more complex" than first thought, forcing the Apple CEO to take a medical leave of absence until the end of June.
Tim Cook, the company's chief operating officer, is taking over day-to-day operations of Apple in the meantime. This comes as a bit of a surprise considering just last week he was saying that the remedy for this nutritional issue was "relatively simple and straightforward." Regardless of whatever his ailment may be, here's hoping Jobs has a speedy recovery.
Trading in Apple's stock was halted following the announcement but resumed later in the day, inevitably falling more than 8 percent as investors digested the news. Read on to see the full text of Jobs' letter 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