Business News

Apple CEO takes leave to focus on health

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by Keris Lahiff

In a shock move, Apple CEO Steve Jobs has announced he will take medical leave from his position. Reports from The Wall Street Journal state that Jobs will take leave for the second time within two years, the reason for which has not been disclosed.

In an email to staff, Jobs wrote that he intended to “focus" on his health, though he will return as CEO and will continue to “be involved in major strategic decisions for the company”.

“I love Apple so much and hope to be back as soon as I can,” he wrote.

In 2009, Jobs took medical leave for pancreatic cancer, for which he received a liver transplant.

In his absence, Tim Cook, the company’s chief operating officer, will fill in as CEO until Jobs returns. Cook acted as temporary CEO during Jobs’ previous leave of absence.

Apple is expected to release the latest quarterly results tomorrow. With the US markets closed for Martin Luther King Jr. Day, the impact of the announcement on Apple shares is yet to be seen.

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Published on: Tuesday, January 18, 2011

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