- Apple Inc CEO Steve Jobs said on Monday he will take a leave of absence for medical reasons, although he will continue as CEO.

Jobs said the company's board of directors had granted the leave at his request and that Chief Operating Officer Tim Cook would be responsible for all of Apple's day-to-day operations. Jobs said he would stay on as CEO and be involved in major strategic decisions for the company.

Apple's Frankfurt traded shares were down 4.5 percent after the news.

Tim cook Apple inc. Jobs Steve jobs