Jobs Takes Another Leave of Absence; Tim Cook to Fill In

[FanIn80]

Team,

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.

I have asked Tim Cook to be responsible for all of Apple’s day to day operations. 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.

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.

Steve

http://www.businesswire.com/news/hom...Media-Advisory

1) Thoughts and prayers, thoughts and prayers.
2) Will be interesting to see the impact this news has on the market.
3) Would Tim Cook (and Apple, for that matter) survive a permanent transition from fill-in to CEO? Who else would be a candidate? Johny Ive? Cook ran things pretty smoothly during the last absence, but I don't know how much of a hand Steve had in that.

[bluejays]

Apparently in Europe where the markets are open, there's a 7% drop on Apple stock. The scary thing about this LOA is a) it's right before earnings, b) it's right before the iPad 2 is announced. To me, that says it's definitely serious (though for the guys sake, I hope it's not). I missed the opportunity about a month ago to buy Apple stock, and surely would like to at a discounted price tomorrow, but it's really not discounted with Jobs not there as he seems to be the one who pushes ideas forward and doesn't say, "lets wait until technology catches up to release this". Any other CEO would just wait back for technology to better itself, but Jobs seems to lead the way. Hopefully he gets back quickly.

[Russic]

That's rough to hear, hope he ends up back on his feet.

As far as Apple goes I'm pretty concerned. Steve is a very unique individual and many of the traits people hate him for are what make the products so desirable.

As for the iPad 2 my guess is that it's already pretty much out of the development phase (hopefully) and Steve has left his mark. My concern with Apple products would fall more to next years products.

I thought Jony Ive was more of a designer than a CEO-type, but an article I read last month sounded like he and Steve are attached at the hip. Might be interested to see what his role will be in the future.

[The Yen Man]

Has there ever been any person who could affect the outcome of a major company more than Steve Jobs? Love him or hate him, the guy is a brilliant person, and is the heart and soul of Apple. I've never seen the stock of a major company be so closely tied to the health of one person. It's pretty crazy.

[HotHotHeat]

I don't think Steve's stamp is as big anymore as many people think. He's surrounded himself with people that are equally as brilliant as he is. Jobs created the Apple brand and developed a vision for the company, but surely other people employed there are capable of making decisions. Investors that sold off this morning are ######ed. With Verizon about to take on their iPhone and iPad 2 coming, 2011 is going to be massive for Apple regardless of whether Steve is sitting in his office or not.

[J pold]

Wonder what happens to AAPL when the markets open tomorrow, might see a fairly significant drop.

[silentsim]

Hopefully it's nothing that risky. He's had significant health problems in the past.

My guess is he fight's back and is back for the keynote to introduce the iPad 2

[sclitheroe]

Originally Posted by The Yen Man

Has there ever been any person who could affect the outcome of a major company more than Steve Jobs? Love him or hate him, the guy is a brilliant person, and is the heart and soul of Apple. I've never seen the stock of a major company be so closely tied to the health of one person. It's pretty crazy.

"I love Flames so much and hope to be back"

[sclitheroe]

Originally Posted by silentsim

Hopefully it's nothing that risky. He's had significant health problems in the past.

My guess is he fight's back and is back for the keynote to introduce the iPad 2

My guess is this is it. He'll continue to play his role as final arbiter of business decisions as he always has, as long as his health holds out, but you'll note that he has basically ceded control for execution of the 2011 business plan. The 2012 business plan will no doubt be the management team's, and presented to Jobs for approval instead of the other way around.

[FanIn80]

Update: The New York Times reports on a source claiming that Jobs has been suffering from "ups and downs" typical of those dealing with immune system issues related to liver transplants, but that Jobs had recently scaled back his activities at Apple as one of those down cycles began in recent weeks.

Mr. Jobs suffers from immune system issues common with people who have received liver transplants and, as a result, his health suffers from frequent "ups and downs," according to a person with knowledge of the situation, who agreed to speak on condition of anonymity because he was not authorized to discuss it.

In recent weeks, Mr. Jobs began a down cycle and slowed his activities at Apple, the person said. Mr. Jobs has been coming to the office about two days a week, and appeared increasingly emaciated, the person said. He frequently lunched in his office, rather than in the company cafeteria, the person said.

http://www.macrumors.com/2011/01/17/...ve-of-absence/

[mykalberta]

I am not a fan of the guy but I am a fan of the products HIS company makes.

For those of us who never want to go back to when Palm was considered innovative I hope his health improves quickly.