apple-logo1I don’t do much breaking news these days, but word is getting out that Apple CEO Steve Jobs is taking a medical leave until the end of June and leaving COO Tim Cook in charge of day to day management of the company.

According to Silicon Valley Insider, Jobs sent an internal email to Apple employees informing them of the decision:


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.


Trading on Apple stock was briefly suspended today on the news, and is scheduled to resume in about five minutes (in after-hours trading) as I write this. According to Yahoo, Apple is currently selling at $85.33.

This should be some ride.

(Hat tip to Shawn King for the news.)