After months of speculation about his gaunt appearance, Apple Chief Executive Steve Jobs attempted to quash rumors that he is gravely ill by disclosing in an open letter today that he is being treated for a nutritional ailment.
Jobs said he is suffering from a hormonal imbalance “that has been ‘robbing’ me of the proteins my body needs to be healthy” - but that he has begun treatment and plans to remain Apple Inc.’s chief executive officer.
Jobs’ decision to talk about his health, which boosted Apple shares by as much as 5 percent, follows months of speculation that his health was deteriorating to the point where he might have to step down. Shares of Apple had fallen 57 percent during 2008.
The rumors reached a crescendo pitch after Apple announced that Jobs would not deliver his traditional keynote at the MacWorld Expo tomorrow.
The chief executive, who had surgery for a form of pancreatic cancer in 2004, is widely credited for turning Apple into a consumer-electronics juggernaut by developing iconic products like the iPod and the iPhone.
“Steve is probably Apple’s greatest asset and its greatest risk,” RBC Capital Markets analyst Mike Abramsky told Bloomberg News. “This will alleviate a lot of the major concerns about him having something more serious.”
In the letter posted to Apple’s website, Jobs writes:
As many of you know, I have been losing weight throughout 2008. The reason has been a mystery to me and my doctors. A few weeks ago, I decided that getting to the root cause of this and reversing it needed to become my #1 priority.
Fortunately, after further testing, my doctors think they have found the cause - a hormone imbalance that has been “robbing” me of the proteins my body needs to be healthy. Sophisticated blood tests have confirmed this diagnosis.
The remedy for this nutritional problem is relatively simple and straightforward, and I’ve already begun treatment.
But, just like I didn’t lose this much weight and body mass in a week or a month, my doctors expect it will take me until late this Spring to regain it. I will continue as Apple’s CEO during my recovery.
The reaction was mostly, but not universally, positive. After all, if Apple spokesmen could tell investors he was suffering from a “common bug,” why should anyone accept the latest explanation?
And as Valleywag blog points out, the letter raises as many questions as it answers. What is the hormonal problem? What is the cure? Does it relate to his previous bout with pancreatic cancer? Why did Apple spokesmen lie by telling investors that everything was fine?
Jobs makes clear, however, that this is as much information as he plans to share. He concludes his letter: “So now I’ve said more than I wanted to say, and all that I am going to say, about this.”
Apple’s board of directors released a statement saying, “if there ever comes a day when Steve wants to retire or for other reasons cannot continue to fulfill his duties as Apple’s CEO, you will know it.”
Apple announced last month that Phil Schiller, the company’s senior vice president for worldwide marketing, would deliver the annual keynote at Macworld, usually a high-profile platform where Jobs has announced new products.
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