Steve jobs to take medical leave from Apple

Steve Jobs
Apple Inc. co-founder and Chief Executive Steve Jobs said Wednesday he is taking a medical leave of absence until the end of June. Earlier in the week Jobs tried to assure investors and employees his recent weight loss was simply caused by a treatable hormone deficiency.

Steve Jobs, 53, said in a letter last week that he would remain at Apple’s helm despite the hormone deficiency. Jobs also said he had already begun the “relatively simple and straightforward” treatment for the problem.

Tim Cook who is Apple’s chief operating officer will take over Jobs’ responsibilities while he is on leave.

After hours trading on Apple shares were halted. Apple’s stock sank $2.38, or 2.7 percent, to close at $85.33.