On Wednesday, Apple CEO Steve Jobs announced he is taking a medical leave because his illness has become more complex. That news sent Apple’s stock down seven percent.
It wasn’t the first time the stock market worried about Jobs’ health. Apple’s stock also tumbled in December when Apple announced that a gaunt Jobs would not give the keynote at Macworld. Earlier this month, Jobs disclosed that he suffered from a hormone imbalance, but said he would continue leading Apple.
The impact on Apple’s stock “was inevitable because the perception in the market is that Steve drives everything at Apple and, as goes Steve, so goes Apple,” said Van Baker, a Gartner analyst. “This is not an accurate perception, as the executive team at Apple is very competent and capable of running the business very well.”
So what does a company built around the iconic Jobs do? Does it take a very personal health situation and make it everyone’s business? Or does it guard the man who built Apple and upset investors?
“At the end of the day, the board has the responsibility to Apple employees and Apple shareholders and will have to constantly balance between what are their fiduciary responsibilities vs Steve’s right to privacy,” said Michael Gartenberg, vice president for mobile strategy at Jupitermedia. “My guess is along with the board and Apple’s general counsel, they will figure out all of those things.”
Jobs himself isn’t comfortable talking about his illnesses — first a rare form of pancreatic cancer, and now a hormone imbalance — but said that while he is focusing on his health he will always put Apple first. Jobs said he plans to remain involved in major strategic decisions while he is on leave until June and has put Tim Cook, Apple’s chief operating officer, in charge of…