John Paczkowski

Recent Posts by John Paczkowski

Apple's Steve Jobs: "I Have Decided to Take a Medical Leave of Absence"

Trading in Apple shares was halted this afternoon when the company announced that CEO Steve Jobs is taking a medical leave of absence until the end of June. Apple COO Tim Cook will handle day-to-day operations in his absence. And Jobs is to remain involved in major strategic decisions. Jobs broke the news to Apple (AAPL) employees in the following all-hands memo:

Team,
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.

Steve

Coming as it does after Jobs’s disclosure last week that he had a hormone deficiency that had caused him to dramatically lose weight, this is very worrisome news for Apple and its shareholders.


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I think the NSA has a job to do and we need the NSA. But as (physicist) Robert Oppenheimer said, “When you see something that is technically sweet, you go ahead and do it and argue about what to do about it only after you’ve had your technical success. That is the way it was with the atomic bomb.”

— Phil Zimmerman, PGP inventor and Silent Circle co-founder, in an interview with Om Malik