Apple’s Steve Jobs on medical leave

By Staff Reports

Published: January 14, 2009

SEATTLE -- Apple Inc. co-founder and Chief Executive Steve Jobs said today that he is taking a medical leave until June, even though just a week ago the cancer survivor tried to assure investors and employees his recent weight loss was caused by an easily treatable hormone deficiency.

Apple's stock dropped nearly 7 percent.

Jobs, 53, said in a letter last week that he would remain at Apple's helm despite the hormone problem, and that he had already begun a "relatively simple and straightforward" treatment. But in an e-mail to employees today, Jobs backtracked.

"During the past week I have learned that my health-related issues are more complex than I originally thought," he wrote.

Apple's shares have surged and crashed in the past year in step with rumors or news about the CEO's health and his gaunt appearance. While the top executive's health is an issue for investors in any company, at Apple the level of concern reaches fever pitch because Jobs has a hand in everything from ideas for new products to the way they're marketed.

Jobs co-founded Apple with Steve Wozniak in 1976 at the dawn of the personal computer revolution. He was forced from the company in 1985 but returned as CEO in 1997, slashing unprofitable product lines and helping rescue the company from financial ruin.

Since then, under Jobs' demanding leadership, Apple has churned out a string of sleek gadgets, from the iMac and the iPod to a new line of aluminum-covered Macbooks and the coveted iPhone. Many investors fear that without Jobs, Apple would not be able to sustain its growth or its high-end minimalist style. --The Associated Press