Tuesday, January 18, 2011, 01:20 pm PT (04:20 pm ET)
Steve Jobs expected to stay on Disney board during leave from AppleDespite health issues that will keep him from his day-to-day operations at Apple, Steve Jobs will reportedly remain on the board of directors at the Walt Disney Co.
An anonymous source told Dow Jones Newswires on Wednesday that Jobs is "expected to remain on the board" at Disney, where he is the the single largest shareholder. If accurate, Jobs will hold that position in addition to remaining the chief executive at Apple.
Jobs became the largest Disney shareholder in 2006, when the Mouse House acquired Pixar in an all-stock transaction worth $7.4 billion. Jobs was the CEO of the Academy Award-winning animation studio responsible for movies such as "Toy Story" and "Up."
Jobs announced in a letter to employees Monday that he will take a medical leave of absence from Apple, though he will remain involved in major strategic decisions. Like in 2009, Apple's chief operating officer, Tim Cook, will be responsible for overseeing day-to-day operations.
Jobs' vague letter, in which he did not reveal the health condition that has prompted his exit, has led to plenty of speculation about his current state. One report indicated that Jobs has looked "increasingly emaciated" of late, and has only been showing up to work about two days per week.
The news that Jobs will remain on Disney's board during his leave of absence from Apple will no doubt inspire further interpretations from onlookers. He was last re-elected to the company's board in 2009
And on Tuesday, a report revealed that Jobs allegedly traveled to Switzerland in 2009 to receive treatment for cancer — a previously undisclosed detail.
On Topic: General
- Marc Newson confirms only working at Apple part time on secret projects
- Patent holdings firm WiLAN loses second suit against Apple
- Apple opens iTunes donations for 'City of Hope' cancer charity, moves beyond natural disaster relief
- PayPal purportedly cut out of Apple Pay due to partnership with Samsung
- Pebble smartwatch gets $50 price cut, background tracking for fitness & sleep