Steve Jobs Steps Down from CEO and Tim Cook Steps Up

Steve Jobs has taken a 6-month leave of absence from Apple as the CEO. In his place COO Tim Cook will take the CEO reigns. Cook has done so in the past, once in 2004 for 2 months while Jobs was recovering from surgery of pancreatic cancer.

Tim Cook, 47 is from Alabama and is a 1984 engineering graduate from Auburn University. He earned his M.B.A. from Duke University. He enjoy's cycling and is a fitness fanatic. Before joining Apple, he worked at Compaq as the VP for Corporate Materials and spent twelve years in IBM's personal computer business as the director of North American Fulfillment.

Below is a letter that Jobs wrote to the staff and Apple community:

"I am sure all of you saw my letter last week sharing something very personal with the Apple community. Unfortunately, the curiosity over my personal health continues to be a distraction not only for me and my family, but everyone else at Apple as well. In addition, during the past week I have learned that my health-related issues are more complex than I originally thought.

In order to take myself out of the limelight and focus on my health, and to allow everyone at Apple to focus on delivering extraordinary products, I have decided to take a medical leave of absence until the end of June.

I have asked Tim Cook to be responsible for Apples day to day operations, and I know he and the rest of the executive management team will do a great job. As CEO, I plan to remain involved in major strategic decisions while I am out. Our board of directors fully supports this plan.

I look forward to seeing all of you this summer."