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Steve Jobs takes medical leave of absence

Apple CEO has been battling pancreatic cancer for a decade, had a liver transplant

Steve Jobs takes medical leave of absence
Steve Jobs, the Apple CEO, has announced that he is taking medical leave. Tim Cook, Apple's COO will take up the reins in his absence.

Apple CEO, Steve Jobs is taking a medical leave of absence from the company for the second time in two years.

Over the last decade, Jobs has been battling with a rare but curable form of pancreatic cancer and has undergone a liver transplant.

"I love Apple so much and hope to be back as soon as I can," Jobs wrote. "In the meantime, my family and I would deeply appreciate respect for our privacy."

The news that he will again take medical leave has raised serious questions about the CEO's health. For now, very little is known about his current medical condition and Apple has not provided any details except for a short statement on their website.

"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," Jobs said in the statement.

Apple's chief operating officer, Tim Cook, will take over the helm of the company while Jobs is on leave.

"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," said Jobs.

Apple's shares in Europe took a tumble at the news of Jobs' medical leave, with shares in Frankfurt falling 6.2%. US stock markets were closed for Martin Luther King Day.

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