Apple CEO to Take a Medical Leave of Absence

How much of an intangible is a key employee?  If that key employee is THE key strategist for a tech company, and if that tech company is considered the best in the world, and if past is prologue, it is huge. 

Steve Jobs announced he is taking another medical leave of absence from Apple.  The release says he will still be involved in company strategy, but that the day-to-day operations will be handled by others.  (I am not sure how much of the day-to-day operations required Jobs’ attention.) Apple’s stock immediately dipped on foreign exchanges Monday, falling 6 percent in Germany. Markets are closed today in the United States, which might have dictated the timing of the announcement.