Apple founder Steve Jobs to step down for five months
15 Jan 2009, 1117 Hrs

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New York, Jan.15 Apple founder and chief executive Steve Jobs is to step down from his front-line role at the consumer technology giant for five months because of health-related problems.

According to the Telegraph, Jobs, 53, fought off pancreatic cancer five years ago.

His decision to lay himself off for five months is likely to rekindle speculation about his likely successor, the paper added.

Jobs revealed in an e-mailed statement to Apple employees that he will take a medical leave of absence until June, handing over some of his day-to-day responsibilities to chief operating officer Tim Cook while continuing to be involved in strategic decisions. Shares in Apple fell dramatically in extended trading, falling by as much as 12 percent at one stage before settling to trade down seven percent as soon as the announcement was made. Jobs' admitted last week that he was suffering from a hormone imbalance. A fact that he has now revealed is that he is having treatment for a nutritional ailment that is reported to be more serious. (ANI)