Monday, January 17, 2011

Apple CEO Jobs Takes Medical Leave but Remains CEO

Apple CEO Steve Jobs announced that he will take a medical leave of absence, but will continue to be involved in "major strategic decisions" for the company. Chief Operating Officer Tim Cook will be responsible for day-to-day operations, Mr. Jobs said.

"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," Mr. Jobs said in a letter to employees. "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."

Mr. Jobs has battled pancreatic cancer in the past, and his health has been closely scrutinized by Wall Street.


Carl W. Brooks
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