Shares down 5% in Europe after Jobs announces time off to focus on health

👤by Roderick Sam Comments 📅18.01.2011 19:59:07


In an email to employees Steve Job’s the renowned Chief Executive of Apple announced he was to take a break to focus on his health.

Whilst he will still remain at the top of Apple and be involved in major decisions the day to day running of the firm will fall to Tim Cook, the current Chief Operating Officer.

In late 2008 Jobs was absent from Apple for a liver transplant as part of his treatment to try cure pancreatic cancer which he was first diagnosed with in 2004.

Steve Jobs decision to take his leave of absence has taken a major negative hit on Apple shares amid concerns for the future of Apple. This maybe a very pessimistic view taken by analyst but probably never in the history of any company has so much relied on just one man. He did after all bring Apple back from near extinction to the thriving business it now is. Not all (even myself) may agree with some of Apple’s policies and prices but no one can argue about what Jobs has done with the company, he has made Apple a well sought after brand name with millions of ‘Mac Fans’ on the tenterhooks of his every word.

Whilst it is not the immediate future that analysts and investors alike are concerned about it is the long term strategic plans in question. Tim Cook may have taken over the last time Jobs was off ill but he or anyone else has yet to come out of Jobs Iconic shadow.

We all wish Steve Jobs well and hopefully he can come out of this healthier.

BBC News

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