Breaking: Steve Jobs Takes Leave of Absense Unitl June

The shares closed today at $85.33. I’m afraid what will happen tomorrow morning. The New York Times reports:

Saying his health-related issues were “more complex” than he originally thought, Steven P. Jobs, Apple’s chief executive, announced Wednesday that he would take a medical leave of absence from the company until the end of June.
In a letter to Apple employees released after markets closed, Mr. Jobs said that curiosity over his personal health “continues to be a distraction not only for me and my family, but everyone else at Apple as well.”
Mr. Jobs said he had asked Tim Cook, Apple’s longtime chief operating officer, to take on responsibility for Apple’s day-to-day operations. “As C.E.O., I plan to remain involved in major strategic decisions while I am out,” Mr. Jobs added. “Our board of directors fully supports this plan.”
An Apple spokesman could not immediately be contacted for comment. Apple’s stock dropped sharply in after-hours trading.
Mr. Jobs, 53, released a letter just last week saying that doctors had recently diagnosed a “hormone imbalance” that was depleting proteins in his body as the cause of his weight loss. The remedy, he said, “is relatively simple and straightforward, and I’ve already begun treatment.”

Posted by on January 14th, 2009 at 4:40 pm


The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.