Breaking: Steve Jobs stepping down; stock halted

Summary: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

Topics: Enterprise Software, Apple, CXO, Health, IT Employment, Software

About

Jason D. O'Grady developed an affinity for Apple computers after using the original Lisa, and this affinity turned into a bona-fide obsession when he got the original 128 KB Macintosh in 1984. He started writing one of the first Web sites about Apple (O'Grady's PowerPage) in 1995 and is considered to be one of the fathers of blogging.... Full Bio

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