Tuesday, October 30, 2012

Apple Inc. (NASDAQ:AAPL) Reshuffling of Executive Board Is Not a Concern – Analyst

Apple Inc.(NASDAQ:AAPL)’s investors became slightly wary due to modifications to the executive team, but market watchers don’t see a cause for concern. Gene Munster and Piper Jaffray stated that Jony Ive, Apple’s well-known designer will be with the company in the near future, thereby putting an end to rumors of “Apple without Ive”. CEO Tim Cook still has 9 years left on his contract.

Apple’s former head of iOS software, Scott Forstall departure has raised questions that his resignation might have been forceful due to widespread criticism about Apple’s flawed mapping tool.

Brian Marshall of ISI Group feels that there is nothing wrong about Forstall resigning and former retail chief, John Browett’s stint with the company not being well received. Marshall stated that if Apple can manage without Steve Jobs, then these changes to the core team doesn’t matter. Brian White of Topeka Capital Markets shares a similar opinion that changes are a part of a company’s progress, especially for Apple, which is constantly reinventing itself and diversifying product offerings.

Ive is in charge of a new Human Interface team, Eddy Cue is responsible for Siri and Maps, Bob Mansfield will man the new Technologies group including the wireless teams, and Craig Federighi will head the iOS and OS X software. Forestall, will be an advisor to Tim Cook, which might be a move to prevent him from joining a rival. A retail chief will also be recruited.

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