It has been on the minds of quite the bunch of business minds for the past year or so on account of his statement that he would take medical leave of absence.
Though it’s unclear what the reason is for the medical leave, Jobs’ medical history includes a bout of pancreatic cancer and a liver transplant. He was diagnosed with pancreatic cancer in the earlier part of 2004 and even though he beat it, it kept taking shots at his overall health. He then underwent a liver transplant in 2009, and made a full recovery.
In a statement to his employees and corporate family he said,
At my request, the board of directors has granted me a medical leave of absence so I can focus on my health. I will continue as CEO and be involved in major strategic decisions for the company.
I have asked Tim Cook to be responsible for all of Apple’s day to day operations. I have great confidence that Tim and the rest of the executive management team will do a terrific job executing the exciting plans we have in place for 2011.
I love Apple so much and hope to be back as soon as I can. In the meantime, my family and I would deeply appreciate respect for our privacy.
This announcement comes at a time when the price of the Apple Stock at the market drops everytime Jobs gave a public update on his health.
The stock price dropped 8% last week as soon as his announcement to stay on the sidelines for a while came out although most analysts remain calm over these changes.