Steve Jobs Takes Medical Leave Through June

Late yesterday afternoon in a letter to employees, Apple CEO Steve Jobs announced he will take a medical leave of absence until the end of June, “during the past week I have learned that my health-related issues are more complex than I originally thought.”

Jobs said he will “remain involved in major strategic decisions” throughout. Tim Cook, Apple’s chief operating officer, will take over Jobs’ duties until the end of June. Apple shares plunged 10.8 percent in after-hours trading on the news.

More from the Wall Street Journal, New York Times, Washington Post, USA Today and CNet. TechCrunch speaks for many of us as it hopes Steve gets well soon. And considers Apple without Steve, “Steve’s respite will be a good thing for Apple in the long run… Apple can now focus on the cult of Apple, and not the cult of Steve.”

The video above is of the June 14, 2005 commencement address Jobs delivered at his alma mater, Stanford University. At the time he was recovering from surgery to remove cancer from his pancreas. An excerpt:

When I was 17, I read a quote that went something like: “If you live each day as if it was your last, someday you’ll most certainly be right.” It made an impression on me, and since then, for the past 33 years, I have looked in the mirror every morning and asked myself: “If today were the last day of my life, would I want to do what I am about to do today?” And whenever the answer has been “No” for too many days in a row, I know I need to change something.

Remembering that I’ll be dead soon is the most important tool I’ve ever encountered to help me make the big choices in life. Because almost everything–all external expectations, all pride, all fear of embarrassment or failure–these things just fall away in the face of death, leaving only what is truly important. Remembering that you are going to die is the best way I know to avoid the trap of thinking you have something to lose. You are already naked. There is no reason not to follow your heart.

Video via Kara Swisher:

BoomTown thinks it is time to listen to the wise words Jobs delivered at a now legendary Stanford University commencement address in 2005… the speech ended with some words Jobs saw on back of “The Whole Earth Catalog” when he was young, which impacted him greatly.

They were: “Stay Hungry. Stay Foolish.”