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Steve Jobs, the chief executive of Apple, yesterday finally moved to reassure investors about his health, disclosing that he was suffering from a “hormone imbalance” that had caused him to lose weight rapidly.

Apple’s shares rose sharply after months of speculation that Mr Jobs, who is seen as crucial to the success of the producer of Mac computers and iPods, was seriously ill. He was successfully treated for pancreatic cancer four years ago.

In an optimistic letter to the “Apple community” about his health, Mr Jobs, 53, said that the illness had been “robbing me of the proteins my body needs to be healthy”.

Various rumours about Mr Jobs’s health had helped to drive Apple shares down since he appeared at a conference in June looking gaunt. Last month Apple announced that he would not make the keynote speech at the Macworld conference, which began in San Francisco yesterday. Apple had insisted that his replacement by its head of marketing, Phil Schiller, was because of a reduction of its role in Macworld.

Mr Jobs said in the letter: “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 No 1 priority.

“Fortunately, after further testing, my doctors think they have found the cause. 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.

“I have given more than my all to Apple for the past 11 years now. I will be the first one to step up and tell our board of directors if I can no longer continue to fulfill my duties as Apple’s CEO. I hope the Apple community will . . . know that I will always put what is best for Apple first.”

Mr Jobs offered few details on his diagnosis and it was unclear whether the hormone problem arose from his treatment for cancer or in another way. Mr Jobs, who is thought to have lost at least two stone in weight, added: “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 gave the chief executive their full support. In a statement issued at the same time, they said: “As we have said before, if there ever comes a day when Steve wants to retire or for other reasons cannot continue to fulfil his duties as Apple’s CEO, you will know it.”

Although some analysts expected Macworld to help Apple to show that it could execute its long-term strategy without Mr Jobs as its public face, others have questioned the company’s viability without Mr Jobs, who has been the driving force behind Apple products, including iPhones.

Investors appeared happy to have some clarity on his health. Shares in Apple closed up more than 4 per cent at $94.58 in New York after the letter.

Vijay Rakesh, a Thinkequity analyst, said: “It’s very positive that he came out and said this. I think it does put to rest all the speculation on his health and I think people will now start to focus on the business. I think this is very good for Apple and the stock because Jobs has been an innovator. He steered the company into a lot of new products.”

However, Brian Marshall, an analyst for AmTech Research, said that the health bulletin was unlikely to end speculation unless Apple gave more details on Mr Jobs’s condition. He said that he expected Mr Jobs to step down as chief executive some time this year and probably stay as an adviser.

Richard Holway, of Tech Market View, an industry analyst, said: “The real problem is that there was no succession plan in place at Apple, so rumours that he was terminally ill had a bigger effect on Apple than at other companies.

“They need someone with the same charisma and drive as Jobs, but at the moment there doesn’t seem to be anybody at Apple who can take over.”

Apple has tried to highlight other executives in recent months. Public speaking duties have been handed to subordinates such as Mr Schiller, Timothy Cook, the chief operating officer, who introduced its new lap-tops in November, and Jonathan Ive, the British designer of the iPod, who is senior vice-president for design.

Apple executives have said that they have a succession plan in place but have not discussed it publicly.

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