Okay, maybe he won't need the presidential pardon after all; we shall see...
A statement by the board that Mr Jobs would be staying was greeted with a sharp rise in Apple's share price.
But whether the board can stick to its position may depend on the attitude of prosecutors and the media, neither of which has been inclined of late to forgive ethical lapses by business leaders.
Could that unforgiving mood be changing? So far, prosecutors have shown no interest in pursuing Mr Jobs, and there have been strikingly few calls in the press for him to go.