Management Turnover as Change Agent

Wednesday, January 14, 2009

Apple's Steve Jobs Takes Medical Leave

Late this afternoon Apple announced that Steve Jobs, Apple’s CEO, has decided to take a medical leave until June to deal with his health related issues. In his place Tim Cook, Apple’s chief operating officer, will serve as the interim CEO.  Cook handled this position when Jobs underwent surgery years back for pancreatic cancer.  CNET reported that Apple released an email that Jobs wrote to Apple’s employees. The email stated:Tim Cook

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.

While the sudden announcement resulted in a late suspension in the trading of Apple’s stock after it fell nearly 10%, once this all settles down the market will hopefully recognize that the company is in good hands.  Cook was one of Job’s possible successors mentioned in an earlier blog and a story in Forbes back in the summer.

For more:

San Jose Mercury News

Electric Pig

Charlie Rose Interview of Michael Arrington, Techcrunch (video)

New York Times 

Seeking Alpha (1/15)

No comments: