The 55-year-old had a liver transplant in 2008 as part of a series of treatments for pancreatic cancer
Apple shares plummet following announcement
Fears are growing for the health of Apple founder Steve Jobs after he revealed he is taking two years off.
The 55-year-old’s gaunt appearance has fuelled speculation in recent months that his pancreatic cancer may have returned six years after he claimed he had beaten the disease.
But yesterday’s announcement was the first official confirmation that something was wrong.
01.jpgHe will continue as Apple's chief executive and be involved in major decisions but has asked Tim Cook to be responsible for all day-to-day operations.
Mr Jobs signed off by saying he loves Apple and hopes to be back as soon as he can.
He added that he and his family would appreciate respect for their privacy.
In late 2008 to mid-2009 Mr Jobs was absent from Apple for six months to have a liver transplant. It was part of the series of treatments he has undergone for pancreatic cancer.
He was first diagnosed as suffering from the cancer in 2004 and underwent surgery later that year to remove a tumour from his pancreas.
The announcement was made on a public holiday in the U.S. when there is no trading in company stocks andshares. It comes ahead of Apple's end of year results.
But the news caused Apple shares traded in Frankfurt to plummet by 7.5 per cent, echoing the drop that rook place when Mr Jobs took time off to have his liver transplant.
It will be Mr Cook's third stint as leading Apple.
He stepped in for Mr Jobs when he went on medical leave between January and June 2009, and for two months in 2004.
Many analysts consider Mr Cook as his logical successor.
Under Mr Cook's direction in 2009, the company kept cranking out well-received products including updated laptops with lower entry-level prices and a faster iPhone with many longed-for features. Apple sold more than a million of the new iPhone 3GS during its first three days on the market.
Apple's stock has weathered the recession better than those of most of its competitors, but the subject of MrJobs' health has made shareholders jittery in the past.
When he first appeared looking startlingly thin shares fell amid rumours of a heart attack, only to rise when he announced the cause was a hormonal imbalance.
When Apple said the CEO would be taking six months off in 2009 because of medical problems shares sank 7 per cent.
Investors learned Mr Jobs had kept his cancer diagnosis secret until after he underwent surgery.
Industry commentators feared a half-year absence would leave one of the oldest computer makers adrift, because Mr Jobs had become the essence of the company he started in 1976.
But during his time off Apple continued to release must-have gadgets and software improvements, and last year's launch of the much heralded iPad has seen the company's fortunes rise further.
Apple's cult-like followers remain avid, many camping overnight at Apple stores to be one of the first to snatch up the latest product.
But no matter how many accolades Tim Cook and the Apple product teams win, industry commentators believe it will be near-impossible to find someone like Steve Jobs to replace him.
