What does the under cover promotion of Jony Ive to Chief Design Officer at Apple mean of Apple's future and the AAPL stock?
As reported earlier, Apple revealed through an unusual route that Jony Ive has been promoted from his current VP of Design to Chief Design Officer at Apple. He will be one of three C-Level executives at Apple going forward. The news has been revealed in a lengthy article about Apple by Stephen Fry in the Telegraph. Nested among an interview with Tim Cook, a Steve Jobs anecdote and the new Apple Campus 2, Fry talks with Ive about his new role at Apple.
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Ive introduces his two new VPs that will handle the day to day business. Richard Howarth is the new head of Industrial Design and Alan Dy is the new head of User Interface.
(left to right) Alan Dye, Jony Ive, and Richard Howarth (Photo Credit: Gabriela Hasbun for The Telegraph)
Ive makes a point in the interview that he is still in charge of both departments. A couple years ago Tim Cook has put him in charge of both departments and that is not changing. "Having Alan and Richard in place frees me up from some of the administrative and management work," said Jony Ive.
Fry said that Jony Ive plans to travel more and focus on the Apple Stores more. Seth Weintraub interprets the "travel more" statement as moving back to the UK. Ive has wanted to go back for a long time. It is possible that his family will move to the UK and he will travel back and forth between California and the UK.
Is the promotion of Sir Jonathan Ive good or bad for Apple? I believe that this is a well thought out new structure that makes Ive happy and keeps him motivated to work for Apple. It is not like he still has to work a day in his life. It is all about fulfillment and being happy. If Ive is happy, Apple is in good shape moving forward.
Apple chose Memorial Day to unveil the news of the new management structure because the markets are closed. How will Wall street react today? I predict that there will be no movement in the AAPL stock based on the Ive promotion. Investors will take a wait and see approach.