It’s just been announced that Apple CEO Steve Jobs is taking another leave of absence due to poor health. He states in the press release issued by Apple that he hopes to return and will continue to be involved in major strategic decisions for the company.
Jobs was diagnosed with pancreatic cancer in 2004 and underwent a liver transplant in 2009 and his frail appearance has continued to cast doubt on his long term future at the company. Credited for masterminding one of the biggest turnarounds in business history, Jobs is seen as being crucial to Apple maintaining its position as the world’s most dynamic and valuable tech company.
His reputation as an innovator and a perfectionist and his ability to spot future trends have resulted in some of the most successful tech products of the past decade, and fears that Apple will not have the same knack of launching hit product after hit product without Jobs have sent shares in the company tumbling whenever concerns regarding his health have been raised.
As the news of Jobs latest leave of absence spreads, shareholders are preparing to take a battering with many expecting shares to drop from $348 to as low as $250 when trading reopens tomorrow.