Thursday, January 15, 2009

Apple's Jobs Takes Medical Leave

Just a week after reassuring investors and employees about his health, Apple Inc. Chief Executive Steve Jobs disclosed he has a "more complex" medical condition and would take a leave of absence until the end of June.

Mr. Jobs's disclosure, in a letter directed to Apple employees, provided no details about what was ailing him and raised fresh questions about a company that is so closely identified with its co-founder. Apple shares fell 7% in late trading on the news.

Mr. Jobs, 53 years old and a pancreatic-cancer survivor, said he was passing day-to-day management of the Cupertino, Calif., company to Chief Operating Officer Tim Cook. Mr. Cook filled in for Mr. Jobs in 2004 when the Apple chief took a leave to battle his cancer.

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