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Apple CEO takes a leave of abscence

Jan17

Written by:
2009/01/17 08:05 AM RssIcon

Apple chief executive Steve Jobs is taking a leave of absence until June for health reasons.  He said that his health reasons are more complex than he thought.

Apple chief executive Steve Jobs is taking a leave of absence until June for health reasons.  " My health issues are more complex than I originally thought", he said.

In an email to employees, Steve Jobs said he would take the leave of absence "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".  In the letter the CEO cited hormone imbalance as the cause for his noticeable weight loss.

Doctors have said that the tumour he was treated for in 2004 could have spread to another organ or resurfaced in the pancreas, requiring surgery or other treatment. Rumours have been circulating that Steve Jobs might need a new liver, and is actually considering a liver transplant. Jobs is a cancer survivor, having been treated for a rare form of pancreatic cancer in 2004. During that time, he also stepped down from his day-to-day CEO role. But some say that he is a survivor and will be back.

COO, Tim Cook, has been elected as Captain in charge. He took over in 2004 when Jobs was diagnosed with pancreatic cancer. Cook is thought to be a good choice to run the company during Jobs’ absence.

Can anyone replace Jobs? On Wednesday, Apple’s shares closed down at $85.33, down 2.71 percent on the day. In after hours trading shares had dropped by as much as 7.8 percent. Is this the sign of things to come.

Jobs founded Apple in 1976 with engineer Steve Wozniak after dropping out of college. He left the company in 1985 after an internal power struggle but returned in 1996 and is credited with reversing Apple's fortunes. Will his leave now start an apple landslide? Who knows. We certainly hope not.

With other CEO either resigning or leaving various top companies, with the likes of Bill Gates in the not too distant past, and recently CEO of Yahoo, and now Apples CEO. One has to wonder if the face of the IT and Technology industry is about to change.

 

What are your thoughts? Do you think Apple will survive? Will they reach newer heights or fizzle out?

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