Apple CEO is going on a "medical leave of absence”. In his absence, Apple COO Tim Cook will take over company’s day-to-day operations. Steve Jobs though will remain as the CEO of the company.

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Here is the full email which Jobs sent to all Apple employees this morning:

Team,

At my request, the board of directors has granted me a medical leave of absence so I can focus on my health. I will continue as CEO and be involved in major strategic decisions for the company.

I have asked Tim Cook to be responsible for all of Apple’s day to day operations. I have great confidence that Tim and the rest of the executive management team will do a terrific job executing the exciting plans we have in place for 2011.

I love Apple so much and hope to be back as soon as I can. In the meantime, my family and I would deeply appreciate respect for our privacy.

Steve

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