Steve Jobs steps down, Tim Cook runnin’ the ship until June

General

This story is so hot that I’m going to have to keep this short out of fear of burning my fingers — Steve Jobs is stepping down at Apple to take himself “out of the limelight and focus” on his health. He will take a leave of absence until the end of June and Mr. Cook will be running the day-to-day operations in the meantime, but Jobs will still be involved in all “major strategic decisions” while he is gone. Trading has reportedly been halted on shares of AAPL. We wish Steve a speedy recovery, but this doesn’t sound good, folks. The full message from Jobs is after the break…

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

49 Comments
  • Krikor Keusseyan

    Its all a big marketing gimmick. Keep the company under wraps while they work on something new to come up with. Give them time to develop, and when ready bring back our CEO which everyone cares so dearly about to gain free publicity.

    Stocks will go down now, but come june, they’ll sky rocket!

    oh ya.. my 2cents lol

  • CharlesA

    Hello: I love my iPhone 3G and my new iMac 20″. They make a great pair. Thanx Steve and crew for the new technologies associated with them. Charles

  • gquaglia

    blockquote>Without him Apple will suffer and eventually die.

    You are a moron.

  • Galvatron

    hey if it means less koolaide drinkers Im all for it.

  • kizzle

    I hope he’s ok and come summer he’s back at Apple again.

  • StevenGlansburg

    I’m putting my Macbook, iphone and ipod up on craigslist right now…. they are instantly going to fall apart and suck now that Steve Jobs is not running the company…

    …get a grip dorks!

  • Jerry Marcus

    STEVE…GODS SPEED AND GOD BLESS YOU AND YOUR FAMILY….HOPE YOU MAKE A STRONG COME BACK

  • Ron

    Steve, we all wish you a speedy recovery.

  • Josh

    @gquaglia

    You are the reason 12 year olds shouldn’t be allowed anywhere near a computer. If you disagree then do so in an intelligent way. Insults only make you look like a moron, not me.

  • backbeat

    @Gal-Tron: You just subscribe to a different flavor KoolAde, that’s all, fool.

  • Ervel Flick

    Wish him all the best.

  • Jack

    Ok you need to do a little better job of providing a critical review of your facts before you publish. Apple share were NOT halted because of this news.

    However, Nortel shares WERE halted today due to a surprise bankruptcy announcement.

  • DK

    This is sad. Speaking medically Steve has been on borrowed time for several months now, so the company now will have to dust-off its “Succession Plan” and try to keep the place afloat. But back to his health, seriously, it does not look good. The 22-week timeframe for this absence is eerily congruent with life expectancy of someone at the stage that one may be having had the type of cancer he has, and for the length of time he’s had it. Very sad, sad, sad. Doesn’t matter who he is, what he runs, or how much he makes. It’s sad to lose a person.

  • Black93300ZX

    I can’t understand all of the people saying “maybe this will open up 3rd party apps”, “maybe this will show a big change in company philosophy”, are you stupid? He’ll still be behind the scenes on any major changes, and that would be a major change. The entire company philosophy doesn’t change because he leaves his duties to someone he trusts, if that were the case he wouldn’t trust them. Stop being so hopeful that your iPhones will finally stack up to the other smartphones on the market, or that when you buy a song on iTunes you’ll actually own it, that will never happen. It is what it is, no Steve Jobs, that doesn’t mean no restrictions.

  • bag of crackberry

    Steve-o will never die they will upload him into some super secret apple super computer then he will launch nukes like sky-net fron terminator and junk.

  • Jon

    Steve Jobs is not going to come back. Around the end of May, he will announce he needs to take a longer time off because unforeseen complications arouse. Then during that extra time off he is going to transition out of being CEO.

    He had a great run and I wish him all the best.

  • http://www.k5live.com Likeabite

    First on to the serious issue at hand…as someone already noted he did just shift in tone and direction from it won’t affect me as CEO to having to take a leave of absence…it must be serious and all the best wishes to him.

    I honestly do think that Apple is the only company who’s CEO represents the brand to a T, whereby his health or absence can have a negative effect on its stock. This is simply because if any other CEO was sick or had to step down it would be reported but it would not receive as much coverage and scrutiny as this. A lot of people have grown to love the Apple brand through Steve Jobs and some, not all, might leave as he does. The fear here is that he won’t be there forever since that’s a physical impossibility so people who fear the company’s demise now should have a very bleak outlook for Apple as a whole. Bill Gates left his post as Microsoft and the Microsoft ship did not crash but I have a feeling that Jobs leaving Apple permanently or not, though it won’t crash, will have a huge effect on the company. Some people believe that he’s the only one with the vision of the company so where does that vision go if he’s no longer there? Microsoft, Dell, Cisco, Oracle and the other countless companies don’t have this CEO syndrome where people believe the CEO is the company; in Apple’s case however, that is the case as a lot of people have stated here. This is not to say that it is true but a lot of people believe it so Apple as a brand might not have the best future if the face/innovator/cult leader or whatever u want to call him is sick now and we all know he won’t be there forever because as humans we do pass. We’ll just have to wait and see I guess.

    And to those saying that buying one brand of electronics doesn’t make you “go” anything I have to agree but with some reservations. If you love iPods and macbooks or whatever thats cool but if that’s all you buy when at times the next alternative seems better by features/price/build quality/battery life and whatnot then you can see why people will have that “cultist” attitude about you: No matter what you’ll purchase the Apple product and that’s what cult followers do…no matter what seems rational they’ll do what they know or is told. Although that is a bit extreme the ideology is still the same.

  • CC

    Apple is all about innovation, and that won’t change with Steve not there. I am sure there are several products in the pipeline to carry Apple for the forseeable future. That said, Jobs really is the face of the company, and I would expect a major drop in share price in the immediate aftermath. I hate to say it, but I also feel that there is no way he comes back at all. Although no one has acknowledged that it is pancreatic cancer again, it seems liekly, and that truly is a death sentence. Best wishes to Steve.

  • b.N

    @Jack

    the information is correct. after hr trading of appl was haulted.

  • dante

    Get well soon Steven. And I do mean soon.

  • Georg

    About time Mr. Jobs. Apples acting in the last year was unfortunate. (no mac mini update, mirroring displays across nearly whole product line, no firewire interfaces where they should be and now mbp with not replaceable battery …) Despite his merits more freshness in this company would be better.

  • Galvatron

    apple dosn’ really inaovate at all they mosty imitae the battery pack is is the slight expeption thgoh also seve toal yearly salery is $1 the rest of it is all in stock so that one of the reasons the ceos health and action relfect the driection of the compan’s stock price. i dosn’ have to remd you abouttpublicly trade companies fiduciary right to the shareholders do I? no? thought so.

  • backbeat

    ^Speak the language … or simply don’t.

    Idiot.

  • http://www.billsden.org Bill Taroli

    steps down? Uh, no. Leave of absence and “still involved in key decision making by agreement of the board” doesn’t spell stepping down. Could that happen in the future? Sure. But not just yet. This should just be Apple’s wake up call that it needs to get more Jobs religion instilled in it’s management ranks and not rely so heavily upon one person to keep that flame burning.

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