Steve Jobs Takes Medical Leave

Apple shares dropped eight percent Wednesday after CEO Steve Jobs announced that he will take a leave of absence due to health-related issues.

Apple shares dropped eight percent Wednesday after CEO Steve Jobs announced that he will take a leave of absence due to health-related issues that have become "more complex" than he originally thought. Jobs, who only last week said his drastic weight loss was due to a treatable hormone imbalance, will not resume his job until the end of June. The move was necessary, Jobs said, to take himself "out of the limelight … and to allow everyone at Apple to focus on delivering extraordinary products." Tim Cook, the company’s chief operating officer, will take over Apple’s day-to-day operations. Speculation over Jobs’ health has been rampant since the CEO pulled out of Apple’s annual Macworld product showcase last week, sparking rumors that his pancreatic cancer had returned. 

Continue Reading 0