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Steve Jobs to take medical leave of absence but remain Apple CEO

post #1 of 253
Thread Starter 
For the second time in two years, Apple Chief Executive Steve Jobs will take a medical leave of absence from his company, but the company co-founder will remain CEO and be involved in major strategic decisions, he said on Monday.

Apple issued a press release on Monday that included a note from Jobs that was sent to all of the company's employees. In it, Jobs revealed that Chief Operating Officer Tim Cook will again take over the company's day to day operations.

"At my request, the board of directors has granted me a medical leave of absence so I can focus on my health," Jobs wrote. "I will continue as CEO and be involved in major strategic decisions for the company."

The CEO said he believes that Cook will do a "terrific" job for Apple as he has done in the past. Cook's job as interim CEO during Jobs' previous medical leave of absence in 2009 recently earned him $59 million.

"I love Apple so much and hope to be back as soon as I can," Jobs wrote. "In the meantime, my family and I would deeply appreciate respect for our privacy."

Cook assumed the role of interim Apple CEO from January to June of 2009 so that Jobs could recover from liver transplant surgery. During that time, he oversaw the launch of several key products, most notably the iPhone 3GS.

Jobs returned to Apple in June 2009 after he received a liver transplant. In 2004, he also underwent surgery to address pancreatic cancer.

Jobs has long maintained that he believes his health is a private matter, a fact reiterated in Monday's note to employees.

The announcement comes on Martin Luther King Jr. Day in the U.S., a holiday on Wall Street where markets, including the NASDAQ, where AAPL trades, is closed. The news was also delivered a day before Apple is set to announce its quarterly earnings after the market closes on Tuesday.



Jobs' latest leave of absence comes after Apple's greatest calendar year ever, with the company selling more Macs and iPhones than ever before. 2010 also saw the introduction of the iPad, Apple's touchscreen tablet that has taken the technology industry by storm.

The importance of Jobs in his company's success was highlighted over the last year by numerous publications: Barron's declared him the world's most valuable CEO, while MarketWatch named him CEO of the Decade, and the Financial Times gave him the title Person of the Year.

Jobs was also listed as one of Time magazine's "People Who Mattered" in 2010, and a photo of the chief executive adorned the cover of the magazine when the iPad first launched in the U.S. in April.
post #2 of 253
Oh no.
post #3 of 253
God Bless....speedy recovery.
post #4 of 253
I find myself worried and saddened at this news. Not sure if we'll see Steve back at Apple ever again

Anyway, really hope I'm wrong.
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it's = it is / it has, its = belonging to it.
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post #5 of 253
"OMG Applew is doomed" comments may start now.

Which of us is the fisherman and which the trout?

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Which of us is the fisherman and which the trout?

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post #6 of 253
Cruel irony that the best decade of his professional life has been such a struggle to just stay alive.

I hope he just does whatever he has to in order to take care of himself. Perhaps he should consider giving up "day-to-day" responsibilities permanently, and purely focus on strategic / QA duties.
post #7 of 253
Get well soon Steve.
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Sent from my iPod Shuffle
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post #8 of 253
Get well, Steve. Praying.
post #9 of 253
I hope he gets better soon. I wish him nothing but the best.


On a not unrelated note...Guess I should have sold at $345 a share. Wont see those levels again for six months probably. Wonder how bad the drop will be. $290?
post #10 of 253
Hope you feel better soon, Steve.

 

Your = the possessive of you, as in, "Your name is Tom, right?" or "What is your name?"

 

You're = a contraction of YOU + ARE as in, "You are right" --> "You're right."

 

 

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Your = the possessive of you, as in, "Your name is Tom, right?" or "What is your name?"

 

You're = a contraction of YOU + ARE as in, "You are right" --> "You're right."

 

 

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post #11 of 253
Not good.
May he get a full recovery and return to Apple as Apple is Steve as Disney was Walt and Ford was Henry.
post #12 of 253
Quote:
Originally Posted by Blastdoor View Post

Cruel irony that the best decade of his professional life has been such a struggle to just stay alive.

I hope he just does whatever he has to in order to take care of himself. Perhaps he should consider giving up "day-to-day" responsibilities permanently, and purely focus on strategic / QA duties.

I agree, good idea.
post #13 of 253
Something is seriously up to force him to leave again, especially since it's said he's a workaholic.
post #14 of 253
Stock buying opportunity coming...
post #15 of 253
Best wishes, Steve, for comfort and family support.
post #16 of 253
Not sure how you can run a company with the second largest market cap and expect your life to be "private".
post #17 of 253
This has to be expected to some degree, if you know anything about the kind of situation Steve is in. Money can buy you a lot but it can only help you fight cancer, it can't cure it.

Focussing on his health for a while makes total sense. I would also be happy to hear that Steve was relinquishing day-to-day running of the company, esp. if he was still able to maintain a key roll in taking big company decisions. Trouble is, there's always going to be a fair amount of stress involved in taking BIG decisions at Apple. Stress and cancer are not good bed-fellows. So I guess, Steve's level of involvement will very much depend on the advice he takes and how he feels he can cope with the stress.

My very best wishes to Steve and his family.
post #18 of 253
I would hate to see him pass away so young.
I did read though that he is a bastard to the nth degree. Apple makes cool stuff but I heard Apple is a nightmare company to work for.
post #19 of 253
Get well soon.
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I wanted dsadsa bit it was taken.
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post #20 of 253
Take care!
post #21 of 253
Quote:
Originally Posted by maccherry View Post

I would hate to see him pass away so young.
I did read though that he is a bastard to the nth degree. Apple makes cool stuff but I heard Apple is a nightmare company to work for.

YOu heard wrong.
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I wanted dsadsa bit it was taken.
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post #22 of 253
Now we know why Jobs did not appear at the Verizon announcement.

Very sad. Over the years, I've had too many friends and acquaintances take leave from their jobs to focus on their or their family's health to not understand the euphemism.
post #23 of 253
Good luck Steve.

Quote:
Originally Posted by dukemeiser View Post

Not sure how you can run a company with the second largest market cap and expect your life to be "private".

You are wrong, privacy is a right he's earned.
post #24 of 253
Quote:
Originally Posted by ghostface147 View Post

Something is seriously up to force him to leave again, especially since it's said he's a workaholic.

Yeah, I'm concerned. This is not good news.
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GIGO. The truth in all of life.
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post #25 of 253
Quote:
Originally Posted by ghostface147 View Post

Something is seriously up to force him to leave again, especially since it's said he's a workaholic.

I agree. He is a workaholic and he knows the impact this announcement may have on Apple and so if he is doing this I am afraid this is not good news at all.

Having the money he has, the very best health care money can buy is given. I am afraid that him leaving is the end of him at Apple.

I hope it is not, but if it is then my hat is off to him and all that he has given the technology world.

Peace Steve!
post #26 of 253
I do hope SJ gets well regardless if he stays with Apple or not.

But even s SJ less Apple is in good shape.
My guess is that Apple totaly dominate the >1000 USD market for computers ( were the profit margins are nice)
Apple then did quite well on the mp3 player market
Then the iPhone
Now the iPad
In the future Apple will do well with " the next great thing"

SJ and the people saved a moribund company sunk in quagmire of useless Newton and rotting Mac OS
in confusing maze of II and Performa and Centris and LC and Quadra and transformed it to the powerhouse we see today. As Iconic as SJ may be Apple is not a one man show even if he will be terrilbly missed if he departs.
post #27 of 253
Quote:
Originally Posted by Eriamjh View Post

Stock buying opportunity coming...

Precisely.
post #28 of 253
I have a bad feeling about this, hope he is ok but somehow I dont think he'll be back, really sad.
post #29 of 253
Great man, wish him best of health, speedy recovery and many more years with us.
--SHEFFmachine out
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--SHEFFmachine out
Da Bears!
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post #30 of 253
Get well Steve......Please
post #31 of 253
My personal admiration for Steve Jobs is one of the reasons I like Apple products so much. It's just not the same when he's away.
post #32 of 253
Quote:
Originally Posted by sideshowlol View Post

This has to be expected to some degree, if you know anything about the kind of situation Steve is in. Money can buy you a lot but it can only help you fight cancer, it can't cure it.

Focussing on his health for a while makes total sense. I would also be happy to hear that Steve was relinquishing day-to-day running of the company, esp. if he was still able to maintain a key roll in taking big company decisions. Trouble is, there's always going to be a fair amount of stress involved in taking BIG decisions at Apple. Stress and cancer are not good bed-fellows. So I guess, Steve's level of involvement will very much depend on the advice he takes and how he feels he can cope with the stress.

My very best wishes to Steve and his family.

Well said. Also, Tim Cook is very capable. Get well Steve - best wishes.
Where are we on the curve? We'll know once it goes asymptotic!
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Where are we on the curve? We'll know once it goes asymptotic!
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post #33 of 253
Hope you recover soon steve. But take the doc's advises seriously. Cancer is as mentioned above partially stress related.

Best wishes to you and your family
post #34 of 253
the man who had pancreatic cancer and a liver transplant is taking another leave of absence for undisclosed health reasons, and half of the comments here are about how to profit from it.

"stock buying opportunity"? really?

i wish Jobs a speedy recovery, not for my stock, but for himself, his family, and his inspiration to Apple, it's employees, and it's fans.
post #35 of 253
Jesus Christ ....

We were all led to believe Steve'd had really turned the corner on this ....

And with the Dow's day off today plus a day's worth of newscycle build-up/panic, AAPL's gonna China Syndrome tomorrow ....

It's times like these where I really wish I weren't an athesist so I can say:
"My prayers are with Steve & his family."
But since that stupid superstion will net ZERO results, I can't.
But the sentiment's there, all the same.

Get well supersoon, Stev .
The world needs more Steven P. Jobs, for we shall not gaze upon His like again.
"Technology Alone Is Not Enough -- Married With The Liberal Arts & The Humanities,
It Yields Us The Results That Make Our Hearts Sing." - Steven P. Jobs
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"Technology Alone Is Not Enough -- Married With The Liberal Arts & The Humanities,
It Yields Us The Results That Make Our Hearts Sing." - Steven P. Jobs
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post #36 of 253
Get Better Soon!

Health is the most important thing in the world next to a sound mind.
post #37 of 253
Hope he recovers sooner rather than later. I'm sure this isn't the privacy he had asked for in his letter.
post #38 of 253
Quote:
Originally Posted by Mr. H View Post

I find myself worried and saddened at this news. Not sure if we'll see Steve back at Apple ever again

I, too, fear the man is dying. Death comes for us all, but when it comes for Steve Jobs many, many people will grieve.

I really want to be wrong. He should outlive me.

Quote:
Originally Posted by desarc View Post

the man who had pancreatic cancer and a liver transplant is taking another leave of absence for undisclosed health reasons, and half of the comments here are about how to profit from it.

"stock buying opportunity"? really?

Exactly ONE comment before yours mentioned anything along those lines. Exactly one. Out of the dozens so far, all the overwhelming majority wants to see happen is to see him whole and healthy.

Grow up.
post #39 of 253
I'll add my best wishes for a speedy recovery. This news was unexpected and opens the door to a lot of speculation. I'm sure more information will leak out over the next few days.
post #40 of 253
Quote:
Originally Posted by Povilas View Post

"OMG Applew is doomed" comments may start now.

Quote:
Originally Posted by mbene12 View Post

On a not unrelated note...Guess I should have sold at $345 a share. Wont see those levels again for six months probably. Wonder how bad the drop will be. $290?

Four posts later. Not bad timing.

Quote:
Originally Posted by asdasd View Post

YOu heard wrong.

Absolutely everything I've ever read about working at Apple at a level where you'd get to hear Steve's words corroborates the opposite of your post.

Originally posted by Marvin

Even if [the 5.5” iPhone] exists, it doesn’t deserve to.
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Originally posted by Marvin

Even if [the 5.5” iPhone] exists, it doesn’t deserve to.
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