Apple announced today that the company's board of directors has granted CEO Steve Jobs a medical leave of absence to allow him to focus on his health. Jobs had surgery for pancreatic cancer in 2004 and also underwent a liver transplant in 2009, but the exact reason for his current medical leave are unknown.
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 Apple’s day-to-day operations, Jobs said in an an e-mail sent to Apple employees.
"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.
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.