Apple CEO Steve Jobs to take medical leave of absence

After trading hours, Apple CEO Steve Jobs told employees in an e-mail that he will take a medical leave of absence until June. Jobs cited his personal health as a "distraction" and that his medical-related issues are "more complex than [he] originally thought." Tim Cook, Apple's COO, will take over the company's day to day operations.

Rumors that Jobs' weight had been diminishing and that his pancreatic cancer may have returned abounded when he announced before Macworld that he would not be giving his traditional keynote address. After trading hours, Apple shares fell to US$76.11 but rebounded to $80. Jobs' letter addressing Apple employees can be read in its entirety here.