The Corner

Steve Jobs Taking Medical Leave

From CNet:

Apple has confirmed that CEO Steve Jobs will step down from his CEO post while recuperating from a hormone imbalance. His absence will stretch until the end of June.

Tim Cook, Apple’s chief operating officer, will run the company during Jobs’ absence, according an e-mail Jobs sent to Apple employees that was released to the media.

Jobs said in the e-mail:

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.

Trading in Apple’s stock was halted following the announcement but resumed around 2 p.m. PST, falling more than 8 percent, as investors digested the news.

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