Steve Jobs steps down

Peter G. 14 Jan, 2009 at 4:59pm ET Article published in Tech

giantapple Steve Jobs is taking a medical leave of absence, stepping down from his job as Apple CEO. He expects to return to work in July, but until then, Apple COO Tim Cook will take over.

Trading on Apple stock was halted today after Jobs sent out a letter to Apple staff reporting that his health issues were more serious than he thought and would no longer allow him to continue working. Jobs previously reported he suffered from a hormone imbalance, counter to rampant speculation that Jobs, a cancer survivor, had suffered a resurgence. The letter follows:

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

Comments

14 Jan 2009 ~ 5:22pm Snarkasm Not particularly an Apple fan, but nothing but the best of wishes to Steve now and always.
14 Jan 2009 ~ 5:26pm Thrax Prediction: Steve Jobs steps down from Apple permanently.

Best wishes to Mr. Jobs; no one can argue with his genius.
14 Jan 2009 ~ 5:29pm Leonardo Now the Apple fanboys will have a ready-made excuse for anything Apple that is not superior: "It's only because Steve Jobs is no longer in charge."

My respect to Steve Jobs. He's one great movers and shakers of the last 30 years.
14 Jan 2009 ~ 9:03pm Komete I think your prediction is correct Thrax. With Bill gone, there simply isn't enough elitist hate left to keep him working.

He's also getting out a great time. I think apple is at its peek. With Jobs or no Jobs.

Do hope he makes a recovery though.
14 Jan 2009 ~ 11:48pm Leonardo

"It's only because Steve Jobs is no longer in charge."

I really, really hope that excuse doesn't become a fact. The consumer computing world really needs a innovative Apple.
15 Jan 2009 ~ 2:25am DrLiam Steve has done some great things for Apple and hopefully this health problem is not too serious. Overall though I think this will affect the Apple stock negatively.
15 Jan 2009 ~ 10:14am jared I read an article last week that said with the weight loss Jobs has been battling, there is a good chance to is a symptom of the cancer being active again.

Hopefully they are wrong.
15 Jan 2009 ~ 10:37am MiracleManS

jared wrote:

I read an article last week that said with the weight loss Jobs has been battling, there is a good chance to is a symptom of the cancer being active again.

Hopefully they are wrong.

As much as I'm a speculation whore, I think attempting to make a diagnosis through photographic evidence and previous conditions can lead to fear mongering.
15 Jan 2009 ~ 4:00pm jared No that was said by a doctor who actually specialized in pancreatic cancer.

He said rapid weight loss was a common indication that things were heating up again

But as you said, yeah it was all clearly speculation.

Or maybe he just needs a damn streak. Stupid vegans.
15 Jan 2009 ~ 11:12pm Winfrey Ya vegans always have their clothes on
16 Jan 2009 ~ 12:33am DrLiam

FreeC8675 wrote:

Ya vegans always have their clothes on

Attachment not found.
16 Jan 2009 ~ 1:14am Koreish The way it sounded to me he was to step down for 6 months and if by the end of 6 months he could no longer perform his duties Tim Cook was to take his position and Jobs was to become an adviser of sorts. Either way it sounds like Jobs is out... but who could honestly replace what seems to be the main driving force behind Apple?

Hopefully he'll see his way through this.
16 Jan 2009 ~ 8:40am kryyst Jobs brought apple back from the ashes and he has a clear vision but apple isn't going to shut down without Jobs at the reins.
16 Jan 2009 ~ 9:40pm AlexDeGruven I heard the news about this after the markets closed that day, otherwise, I would have put a huge short order in on my virtual stock exchange. Apple stockholders are finicky, just watch the realtime price graphs during a keynote (not for the weak of stomach, better ride than a roller-coaster).

The procedure that Jobs had done is not to be taken lightly. A huge portion of his digestive system was taken out, and also happened to make him diabetic at the same time. I'm not surprised that, even if there is no cancer resurgence, he's having health problems.

The Whipple is a procedure that doesn't get done lightly. If they get to that point, it's because there is no other avenue at that time.

Afterward, individuals need to keep a very close eye on their overall health, and make sure they don't do anything dietary that will upset the now extremely delicate balance of their system.

I'm hopeful that he comes out of all of this ok, but I don't expect to see him at the reins full-time for Apple anymore. I imagine him taking more of a Bill Gates type of position, guiding the company in his vision, but letting others do the heavy lifting.