Apple CEO Steve Jobs granted medical leave; stock drops

by Knowlton Thomas

Reuters has reported that Apple CEO Steve Jobs stated the company's board of directors has granted him medical leave so that he may concentrate on his health, news that saw Apple's stock fall seven per cent on the Frankfurt Stock Exchange. Quoth Rueters:

"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," Jobs said in a letter.

During his leave of absence, Chief Operating Officer Tim Cook, will be responsible for day to day operations, the CEO said in a media statement.

Jobs will continue as CEO and be involved in major strategic decisions for the company.

Jobs did not say for how long he would be on leave but said that he hopes "to be back as soon as I can."

This rather impacting news follows past health concerns that date back many years, as recently as one year ago in a nearly identical situation. Steve is a pancreatic cancer survivor and has undergone a liver transplant.

Apple will report its fourth quarter results after the markets close on Tuesday.

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Knowlton Thomas

Knowlton Thomas

Knowlton is the managing editor of Techvibes and author of Tempest Bound. Based in Vancouver, Knowlton has been published in national publications and has also appeared on television and radio. Previously he was an editor for New Westminster weekly The Other Press and served on its board of directors. When not working, Knowlton enjoys hiking, tennis, and martial arts. more

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