Jobs will continue as CEO and be involved in major strategic decisions for the company, but has asked Chief Operating Officer Tim Cook to be responsible for all of Appleās day-to-day operations, Jobs said in an an e-mail sent to Apple employees.Just as in 2009 the news spooked investors, US stock markets are closed today due to Martin Luther King, Jr. Day but Apple's shares plunged by more than 8 percent in Frankfurt.
"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," Jobs wrote.
Source: CNN