Breaking: Steve Jobs stepping down; stock halted

This was just posted on Silicon Valley Insider:Apple (AAPL) CEO Steve Jobs will take a medical week (sic?) of absence until the end of June.

steve-jobs-hand-on-chin.jpgThis was just posted on Silicon Valley Insider:

Apple (AAPL) CEO Steve Jobs will take a medical week (sic?) of absence until the end of June.  Apple COO Tim Cook will take over for Steve Jobs until then.  Trading is halted.

In a letter sent to Apple employees, Steve said, "during the past week I have learned that my health-related issues are more complex than I originally thought."

Entire memo after the jump...

Apple CEO Steve Jobs today sent the following email to all Apple employees:

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

Tip: Rob Parker

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