Steve Jobs Taking Medical Leave of Absence from Apple

According to Apple PR, Steve Jobs sent out an email to Apple staff this morning stating that he is taking a medical leave of absence. In the email he says Tim Cook is in charge of Apple’s day to day operations. Jobs will remain CEO and weigh in on strategic decisions. The text of the email is below:

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

As you probably know, Jobs had a liver transplant in 2009 to treat complications from pancreatic cancer. What does this announcement mean for Apple? At least Jobs waited until after the Verizon announcement, which is smart. Plus, the company seems to have a definite roadmap for the next year at least, so it will probably take a stock price hit but keep on going strong.

But whatever happens with Apple, we wish Mr. Jobs all the best and we hope he makes a speedy and complete recovery.