Apple's Steve Jobs takes medical leave
Employees received the following memo on Jan. 17:
At my request, the board of directors has granted me a medical leave of absence so I can focus on my health. I will continue as CEO and be involved in major strategic decisions for the company.
I have asked Tim Cook to be responsible for all of Apple's day to day operations. I have great confidence that Tim and the rest of the executive management team will do a terrific job executing the exciting plans we have in place for 2011.
I love Apple so much and hope to be back as soon as I can. In the meantime, my family and I would deeply appreciate respect for our privacy.
Tim Cook has also successfully acted as CEO during Jobs' previous medical leaves in 2004 and in 2009, so don't go freaking out about your stock just yet. Jobs is nothing if not a fighter and has repeatedly recovered against all odds from various afflictions. No early obituaries necessary.