Apple CEO, Steve Jobs, is being reported as taking a medical leave of absence until the end of June. In the mean time, Tim cook will stepping in as CEO of Apple. Tim Cook is currently the Chief Operating Officer of Apple and will assume Jobs’ responsibilities.

Last week we were informed that Jobs had a hormone deficiency that had caused him to lose weight. He then informed Apple employees that his health issues were more complicated than he had originally thought.

Currently, the Apple stock has dropped a couple percentage points with this breaking news right before the stocks closed.

The full letter from Jobs to Apple employees is below:

Team,

I am sure all of you saw my letter last week sharing something very personal with the Apple community. Unfortunately, the curiosity over my personal health continues to be a distraction not only for me and my family, but everyone else at Apple as well. In addition, during the past week I have learned that my health-related issues are more complex than I originally thought.

In order to take myself out of the limelight and focus on my health, and to allow everyone at Apple to focus on delivering extraordinary products, I have decided to take a medical leave of absence until the end of June.

I have asked Tim Cook to be responsible for Apple’s day to day operations, and I know he and the rest of the executive management team will do a great job. As CEO, I plan to remain involved in major strategic decisions while I am out. Our board of directors fully supports this plan.

I look forward to seeing all of you this summer.

Steve

Jobs announced in 2004 that he had undergone successful surgery to treat a very rare form of pancreatic cancer. The specific type of cancer is easily cured if diagnosed early.

We wish Steve the best wishes and get well soon Steve!