News tagged ‘CEO’
According to Hebrew-language newspaper Calcalist, Apple finalized its acquisition of flash memory maker Anobit, which is said to have been recently informed their employees about the finalized deal. The final price remains unknown, but could be in between $400 million and $500 million.
The reported goal of Apple's acquisition of Anobit is to increase the amount of memory in its portable devices, like the iPhone, iPad and MacBook Air, as well as to improve the reliability of solid-state memory. Apple is now expected to build a development center in Haifa, where Intel, Google, Microsoft, Yahoo and Qualcomm also have facilities. The Anobit purchase is believed to be the first acquisition for Apple with Tim Cook as CEO.
Anobit is a 200-employee Israeli fabless semiconductor company that specializes in flash storage. Anobit has about 100 pending and granted patents, and was first founded in 2006. Apple is said to be particularly interested in the company's proprietary memory signal processing technology and planning to build a semiconductor development center in Israel.
On Monday Apple revealed that over 100 million downloads were made via its Mac App Store in less than one year of availability.
"In just three years the App Store changed how people get mobile apps, and now the Mac App Store is changing the traditional PC software industry," said Philip Schiller, Apple’s senior vice president of Worldwide Marketing. "With more than 100 million downloads in less than a year, the Mac App Store is the largest and fastest growing PC software store in the world."
There are now more than 500,000 applications in App Stores for iOS and the Mac that were downloaded more than 18 billion times. More than one billion applications are downloaded per month there. Noteworthy, Apple Stores helped developers achieved success with their applications. Here some comments from the developers whose applications are now available in the Mac App Store.
"The Mac App Store has unparalleled reach and has completely transformed our distribution and development cycle," said Saulius Dailide of the Pixelmator Team. "Offering Pixelmator 2.0 exclusively on the Mac App Store allows us to streamline updates to our image editing software and stay ahead of the competition."
Earlier this week, Disney Chairman and Chief Executive Bob Iger received more than $84,000 in stock for joining Apple's board of directors. According to the U.S. Securities and Exchange Commission, Iger received 75 shares of common stock and 142 restricted shares that will vest in February of 2012. It amounts $84,376 in cash.
This week Apple announced that Iger became member of Apple’s board of directors. He will serve on the company's audit committee. His compensation for joining Apple's board is comparable to what others who joined received in the past. For example, Andrea Jung, who joint Apple’s board in 2008, received 77 shares of common stocks.
Iger’s relationships with Apple have quite long history. In 2006 he was responsible for acquisition of Pixar. Moreover, he is a Disney CEO. He was one of the first people who expressed condolences to Jobs’ family after he passed away. "With his passing the world has lost a rare original, Disney has lost a member of our family, and I have lost a great friend," Iger said.
Last week it was reported that Sony was actively working on changing the way users view and interact with content on its TV sets, with company’s CEO Howard Stringer acknowledging that they was seeking the way to compete with Apple’s ecosystem that is planned to include TV sets in the near future.
The New York Times published an article by Nick Wingfield where Apple’s growth in enterprise sector of the market was revealed, noting that the current Apple’s CEO Tim Cook is "more at ease" meeting with enterprise customers, while Jobs disliked working with businesses.
"While corporate technology buyers say Apple does not try to hide the fact that consumers are still its top priority, they note that the company has gotten easier to work with in recent years, adding features to its devices that make them more palatable to business," author Nick Wingfield wrote.
Under Jobs guidance corporate customers were often rubbed the wrong way. Tim Cook, even before being appointed Apple’s CEO, was said to engage in more communication with the company's enterprise clients.
"(Cook) met more frequently with corporate customers and seemed to appreciate their needs, even if he did not deviate from Mr. Jobs's views about making consumers the priority when making Apple products," the report said.
Apple's new success in the enterprise belongs largely to the iPhone and iPad. According to the recent reports, 93 percent of Fortune 500 companies are deploying or testing the iPhone, while 90 percent are deploying or testing the iPad. Macs also have found its place in enterprises. Moreover, as it was found out, Mac business users are more productive than their PC counterparts.
Analyst Brian Marshall with International Strategy & Investment Group claims that apple may finally pay its shareholders dividends, despite the company’s long resistance. Most investors do not believe Apple will initiate a dividend policy in 2012, but if the company will, it may gain an additional $4 billion in investments.
At the moment the current Apple’s CEO Tim Cook is reorganizing the company, so he may probably make an effort to optimize capital structure and start paying dividends Apple’s shareholders. Brian Marshall believes that Apple could "easily" implement a dividend yield of 250 base points, amounting to about $2.40 per quarter.
Apple’s previous CEO, Steve Jobs, didn’t support the idea of dividend distribution and preferred to invest in strategic opportunities such as last year purchase of Siri (Apple paid about $200 million).
"We strongly believe one or more strategic opportunities will come along we're in a unique position to take advantage of," the late Apple CEO said in 2010. "We don't let the cash burn a hole in the pocket or make stupid acquisitions. We'd like to continue to keep our powder dry because we think there are one or more strategic opportunities in the future."
Yesterday we reported that Apple senior vice president for retail Ron Johnson left Apple and took CEO position at J.C. Penney. And Apple has been still looking for his successor. Cult of Mac now claims that Steve Cano has been promoted to the position of senior vice president for retail.
Apple’s new retail boss boss isn’t just some suit, though. He’s one of the first retail employees Apple ever hired, a California surfer dude who has climbed from the sales floor to the very top rung of Apple management.
According to our source, Apple is replacing Johnson with his long-time lieutenant, Steve Cano.
Cano began his career at Apple ten years ago as manager of the Palo Alto retail store, then he open the SoHo store in New York City, last seven years he worked on Apple's international retail efforts.
But Apple denies appointment of Cano. The company has said that the search for a replacement for Ron Johnson continues.
Barclays’ analyst Ben Reitzes just visited with Apple CFO Peter Oppenheimer and CEO Tim Cook in a meeting where they discussed Amazon’s new low priced Kindle Fire tablet running on Android. According to his research note, (
Today research company Nielsen
Two months has already gone since the moment when Tim Cook was appointed Apple’s CEO. The Wall Street Journal decided to take a look at his management strategy and found out some differences between his style and that of Steve Jobs.
In recent weeks, Mr. Cook has tended to administrative matters that never interested Mr. Jobs, such as promotions and corporate reporting structures, according to people familiar with the matter. The new chief executive, 50 years old, has also been more communicative with employees than his predecessor, sending a variety of company-wide emails while addressing Apple employees as "Team," people close to the company said.
Cook made significant changes in Apple’s education division. As a result the division was divided into marketing and sales divisions and then reintegrated with the company's broader arms focused on those aspects of the business. Another corporate-level change is recently-announced charitable matching program that calls for Apple to match employee donations up to $10,000 per year, a change from the Jobs who was reportedly against giving money away. Cook seems to recognize quickly expertise and achievements of his employees, and ready to promote them, such as with the promotion of Eddy Cue.
In June, Ron Johnson, Apple’s senior vice president of retail, announce his transition to J.C. Penney as CEO of department store chain. Yesterday Apple removed Johnson from the list of senior executives.
After working as a key merchandising executive at Target for 15 years, Johnson was personally lured away by Apple's Steve Jobs in 2000. Having joined Apple, he became responsible for the launch and strong growth of Apple's retail store segment.
The international component of Apple's retail business will be the most crucial element going forward. The company already announced that it intends to open forty new retail stores during fiscal 2012, with 75% of those locations coming outside of the United States.
Johnson also pioneered the successful "Genius Bar" concept that has become a staple of Apple's stores - a concept that Jobs himself was initially against.
Apple has not announced Johnson's successor yet. It is believed that Johnson’s position will be taken be the current Apple vice president for retail Jerry McDougal, who served under Johnson for over ten years. But Apple seems to be still looking for the best possible candidate. After Johnson’s announcement about his departure, Apple started "actively recruiting" for a new retail chief and in August the company took its search abroad in hopes of finding a replacement.
It seems that Apple indeed bought the 3D mapping company called C3 Technologies.
Sure enough, we have now learned Apple is now the owner of C3 Technologies. Sources say that C3 Technologies CEO Mattias Astrom , C3 Technologies CFO Kjell Cederstrand, and lead C3 Technologies Product Manager Ludvig Emgard are now working within Apple’s iOS division. The leading trio, along with most of the former C3 Technologies team, is still working as a team in Sweden (interestingly, the division is now called “Sputnik”), where the C3 Technologies company was located prior to the Apple acquisition.
In 2011 C3 Technologies began demoing its technology on both Android and iOS devices. The company is known to use formerly classified missile targeting technology to achieve its impressive 3D mapping effects. Apple is obviously interested in the technology because it previously depended on Google’s mapping technology for their iOS devices. Acquisition of the 3D mapping company may suggest that Apple has been working on its own mapping service.
Sources close to Microsoft revealed that Microsoft CEO Steve Ballmer allegedly blocked its former data center manager Kevin Timmons from joining Apple after reportedly being hired by the company in April to oversee iCloud operations. Microsoft even threatened legal action against Apple.
Timmons is said to offer Apple a plan to lower the operating cost of its existing data centers. Apple agreed to hire him, but Ballmer asked him to stay at Microsoft. Then a rumored call from Ballmer threatening legal action ended Timmons' would-be deal.
Earlier this year it was reported that Timmons had been hired by Apple in April and was thought to have been tapped to oversee Apple's iCloud at the company's North Carolina data center. But on October 12, when the service rolled out, this position was occupied by Scott Noteboom, Yahoo's former vice president of data center engineering. Timmons is said to take job as the new CTO of CyrusOne.