As MMi's Phillip Swanson reported Monday, longtime Apple executive and one-time Steve Jobs confidante Scott Forstall is being (allegedly) forced from his position at Apple in response to his refusal to sign a letter of apology relating to the embarrassing Apple Maps debacle.
Yet, surprisingly, the loss of Forstall isn't necessarily being viewed as a big negative for Apple. In fact, with celebrated designed Jony Ive now getting a bigger role at Apple in Forstall's absence, investors should no longer be as concerned as they once were about Ive's possible departure.
Piper Jaffray analyst Gene Munster said this morning that Ive will likely remain with Apple for the "foreseeable future." And that should ease the minds of many during yet another tumultuous executive shakeup. "This, combined with Tim Cook's nine years remaining on his contract with Apple, suggests the two most critical management figures will be in place for the longer term," Munster said.
Since Steve Jobs passed away last October, it is believed that Forstall has been an unmanageable personality in some ways around Apple, causing stress and frustration among many high-level officials at the company. Consequently, the scuttlebutt around Apple today is that Forstall's exit has resulted in a number of Apple executives celebrating the loss.
Source: Barron's
Tech Trader Daily - Barrons.com
Reply
