Is Google CEO Larry Page taking a step back from company operations due to ailing health? That was the speculation around the financial world on Thursday. According to an article published on ZDNet, Page was speaking on a third-quarter earnings call when he indicated that, in all likelihood, it would be the last earnings call he would participate in. And while Page made no statement about his health and merely revealed that other Google figureheads will be taking charge with Wall Street communications in the future, stockholders, investors, and journalists throughout the technology sector immediately began speculating about a possible ulterior motive behind Page’s decision to give up something he has always done

But while some of the rumors seem built on a worry that Page will repeat the declining health arc of late Apple CEO, Steve Jobs, they also have some substance to them. Page did say that he wanted to “prioritize his time,” a statement that could be taken with grim undertones depending on the reading, and his history of health problems do indeed give concerned consumers and analysts a reason to worry.

Last June, Page cancelled his appearance at Google’s annual developer summit. He gave little explanation for pulling out of the event at the time – and stayed absent from the spotlight for the majority of the following year – leading to speculation about his health. In May of this year, Page published a blog post explaining a rare vocal condition called vocal cord paralysis, which has long affected the CEO’s left vocal cord. In the summer of 2012, Page caught a cold and came down with a hoarse voice, an issue from which he never really recovered. Doctors indicated at the time that paralysis was beginning to affect the CEO’s right vocal cord as well. It appeared that the Google chief was at risk for losing his voice entirely.

That Page continued doing conference calls to report quarterly earnings was somewhat surprising, and it is no big shock that he has now chosen to step back from that duty. In all likelihood, no additional health issues are plaguing the CEO, but if Page is losing his voice, then he should be prioritizing his speaking time and doing everything he can to save his voice from further decline.

In the meantime, investors will likely understand Page’s reasons for leaving future earnings calls in the capable hands of his chief financial officer – Patrick Pichette – and his chief business officer – Nikesh Arora. However, the CEO will likely want to make a statement to the public about his health to avoid investors and analysts fearing the worst and causing the Google stock to take a dive.