Steve Jobs takes time off from Apple

Apple CEO takes medical leave of absence to focus on his health. During his time away Apple COO Tim Cook will take over the company's day to day operations. However the post of CEO will stay with Steve while he is away as he will be involved in Apple's major strategic decisions.

Check out the letter that Steve Jobs sent to all Apple employees this morning:

Team,

At my request, the board of directors has granted me a medical leave of absence so I can focus on my health. I will continue as CEO and be involved in major strategic decisions for the company.

I have asked Tim Cook to be responsible for all of Apple’s day to day operations. I have great confidence that Tim and the rest of the executive management team will do a terrific job executing the exciting plans we have in place for 2011.

I love Apple so much and hope to be back as soon as I can. In the meantime, my family and I would deeply appreciate respect for our privacy.

Steve