Apple chief, Steve Jobs Steps Down

By Staff

Friday, January 16, 2009, 14:11

Unfortunate health related problems has forced the Apple founder, Steve Jobs to step down from office. The 53 year old has a previous history of pancreatic cancer fight and his current decision to step down till June has further lead to speculations about his health.

The founder himself revealed via email to his employees that he will be on a medical leave and will hand over the responsibilities to chief operating officer Tim Cook. However, Jobs will continue to participate in the strategic decisions of the company.

There was a 12 percent fall in the Apple shares in extended trading and finally settled to a seven percent trade down after the announcement was declared.

The last week saw Jobs admitted for hormonal imbalance and he also revealed that currently he is undergoing treatment for nutritional ailment. AGENCIES