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  1. #1
    Atomic Punk
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    10.28.16 @ 01:09 PM
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    Default Steve Jobs "temporarily" stepping down as CEO of Apple due to health concerns

    I serached, and there are several apple-related threads but nothing I thought this fit into:

    Computer CEO Steve Jobs announced Wednesday that he will step down from his post temporarily while he deals with health issues. Jobs says he will return to Apple in June after recuperating from issues related to a hormone imbalance.

    Jobs recently disclosed that his visible weight loss was due to the hormone imbalance.

    In a letter Wednesday, Jobs wrote that "during the past week I have learned that my health-related issues are more complex than I originally thought".

    Tim Cook, Jobs says, will be responsible for Apple's day to day operations. Cook is currently Apple's chief operating officer and oversees Apple's Mac division as well as its support services and supply chains. (Link view Cooks' full profile)

    Jobs' health has had many Apple watchers anxious and asking what the future might have in store for the company should Jobs leave. The company's share prices have fluctuated over the past year influenced by rumors of Jobs' health and by public appearances where the iconic leader of Apple has looked gaunt.

    Trading in Apple's stock was halted when news was announced Jobs would be stepping down. Apple stock lost 8 percent of its value before trading was stopped as investors reacted to the news.

    Jobs' Official Statement to the Media

    Apple released a statement to the media from Jobs:


    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.


    Health Concerns Raised in the Past

    Rumors had been swirling about the health of Jobs after he decided not to deliver the keynote address at the Macworld Expo. On January 5 Jobs wrote an open letter to the Apple community outlining his reasoning not to deliver the Macworld keynote.

    "Unfortunately, my decision to have Phil deliver the Macworld keynote has set off another flurry of rumors about my health, with some even publishing stories of me on my deathbed," reads the January 5 letter, which refers to Apple Vice President of Worldwide Product Marketing Phil Schiller, who delivered the keynote.

    Health concerns were also raised about Jobs this summer when some say he appeared emaciated during his appearance at Apple's Worldwide Developer Conference.

    Jobs said in mid-2004 that he had undergone surgery for pancreatic cancer. That form of cancer is generally considered a difficult to recover from. Jobs has insisted that he was afflicted by a much less aggressive type of cancer and was treated successfully.

    In a move many say is foreshadowing Jobs' departure, Apple has been actively raising the profile of other Apple executives to the press; such as Eddy Cue, vice president of Internet Services, Scott Forstall, senior vice president of iPhone software, and Jonathan Ive, senior vice president of industrial design.

    I hope he heals fully and quickly...

  2. #2
    Top Of The World FatStrat85's Avatar
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    The entire Apple community along with most of the world has Steve in their thoughts. It would be a real loss for the world if he died this young.

  3. #3
    Atomic Punk
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    10.28.16 @ 01:09 PM
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    Apple's Jobs takes 3rd medical leave, stock slumps

    By Gabriel Madway and Georgina Prodhan Gabriel Madway And Georgina Prodhan 1 hr 28 mins ago

    SAN FRANCISCO/LONDON (Reuters) Apple Inc Chief Executive Steve Jobs is taking medical leave for the third time since 2004, sending its shares tumbling more than 8 percent as the surprise revived concerns over the long-term future of the iPhone- and iPad-maker.

    The company disclosed the news early on a U.S. holiday when U.S. markets were closed and did not specify why or for how long its visionary leader would be absent. Jobs' latest leave comes nearly two years to the date after he took a six-month break to undergo a liver transplant.

    "At my request, the board of directors has granted me a medical leave of absence so I can focus on my health," Jobs, 55, wrote in an email to staff published on a regulatory newswire. "I love Apple so much and hope to be back as soon as I can."

    Unlike the previous announcement, Apple did not say when Jobs would return, driving up the worst fears about Jobs' medical condition. An Apple spokesman declined to comment further.

    "This time around you have to question his ability to bounce back," said Hudson Square Research analyst Daniel Ernst.

    Jobs, a survivor of pancreatic cancer, said Chief Operating Officer Tim Cook would take responsibility for day-to-day operations once again, but he would remain as CEO and be involved in major strategic decisions.

    Apple shares closed 6.2 percent lower in Frankfurt. Nasdaq futures fell 1.29 percent.

    In recent days, Apples shares reached new all-time highs after announcing its iPhone would be available to customers of Verizon Wireless, the largest U.S. mobile operator.


    Apple's destiny has been closely tied to Jobs, the short-tempered and charismatic leader who rescued the computer maker from near death in 1996 after a 12-year absence from the company he co-founded.

    The launch of the iPhone, a smartphone with a touchscreen in 2007, and the iPad, a tablet computer in 2010, forged new business lines for the company that created the personal computing category and helped lead the technology industry into new directions.

    Analysts said the effect on Apple's operations should be limited in the short term, since its product line-up was strong.

    The next version of the iPad, the iPad 2, is still expected to be announced in the coming weeks. The splashy debut of a digital newspaper with News Corp, though delayed by a technical glitch, is also on track to be launched shortly.

    Jobs' absence would be a bigger concern if it became prolonged. Cook ran day-to-day operations during Jobs' last absence in 2009.

    "This will come as a surprise to Apple investors and definitely take some shine off the Apple stock," said Alexander Peterc, an equity analyst at Exane.

    "But even if Steve Jobs never returns to Apple, I would not expect a visible, tangible impact on how Apple is executing over the next couple of years."

    Although Apple has not articulated a clear succession strategy, Cook, whose name routinely appears on the short list for top jobs at other technology firms, is widely seen as the heir apparent.

    Between the announcement of Jobs' 2009 medical leave until his return, Apple shares rose 60 percent under Cook's watch.

    Still, it is far from certain whether Cook has the strategic vision that Jobs so famously possesses.

    Cook was named chief operating officer in 2005 and is seen as a master of Apple's complex and far-flung supply chain. He also manages sales, service and support and leads the company's Mac computer division, where sales have been surging over the past few years.

    Cook took over day-to-day operations in 2009 when Jobs took leave to have a liver transplant. He also steered the company in 2005, after Jobs had surgery for pancreatic cancer.


    Gleacher & Co analyst Brian Marshall said investors would undoubtedly question Apple's long-term momentum, given Jobs' outsized role in developing the company's hit products.

    "Clearly Steve is a visionary. And at $350 a share this is going to weigh on investors," he said.

    Richard Windsor, global technology specialist at Nomura, agreed that Jobs' absence should not have a fundamental effect, but added: "Perception of the company is another matter."

    "Steve Jobs is seen by the market to be a major force in Apple's strategic direction. If his pancreatic cancer has returned, one could be quite worried."

    Apple has been notoriously close-mouthed about Jobs' medical condition. He had surgery in 2004 for an unusual type of tumor on his pancreas called a neuroendocrine tumor -- which often is not quite as deadly as pancreatic cancer. The tumors can cause hormone imbalances, like the one that prompted Jobs to take medical leave in 2009.

    Jobs had a liver transplant in 2009, and organ transplant recipients sometimes have recurring health issues for life, in part because they often must take immune-suppressing drugs to prevent organ rejection.

    Jobs was noticeably thin following his transplant surgery in 2009, and he still appeared so at recent Apple events, something that did not go unnoticed.

    But the CEO said last summer he was feeling "great," in response to a question from a reporter.

    Apple is due to report quarterly results on Tuesday, and is expected to say that revenues rose 50 percent as sales of its iPad tablet computer grew on momentum of the popular iPhone and earlier iPod.;...BwbGUzOXNqb2Jz

  4. #4
    Sinner's Swing! Scott's Avatar
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    10.28.16 @ 08:04 AM
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    Ultimately, Apple as a company will survive if the worst happened to Mr Jobs. It's a cold reality - but it's a reality. He has built the company back up - and clearly there is talent there to survive - so there is that which is a positive.

    When you remove that from the equation, you're left with one sentiment....get well dude.
    Winners come and go; legends are forever.



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