Apple, long known for its C-Suite stability, is being hit with a new challenge of late: an unprecedented level of turnover in its executive ranks.
Mark Gurman for Bloomberg News:
Over a stretch that began in the second half of 2022, Apple has lost about a dozen high-ranking executives. Most of these people carried the title of vice president, which is just below the senior vice president level that reports to Chief Executive Officer Tim Cook. They are some of the most important figures at Apple, responsible for day-to-day operation of many core functions.
The departures included vice presidents overseeing such fields as industrial design, the online store, information systems, Apple’s cloud efforts, aspects of hardware and software engineering, privacy matters, sales in emerging markets, subscription services and procurement. In all, that’s 11 key people — a far higher amount of turnover than we’ve seen in recent memory.
Moreover, I’ve been warned that this flurry of exits may just be the beginning. There are quite a few vice presidents at Apple who have been there for decades and could retire in the next few years.
Apple’s highest layer is in a similar position: 10 of its top 12 executives are about the same age.
MacDailyNews Take: This Apple turnover may seem a bit tart, but never underestimate the value of fresh new blood, especially at the tippy top.
Substitute “retirement” for “death” in the quotes below:
I’ve always felt that death is the greatest invention of life. I’m sure that life evolved without death at first and found that without death, life didn’t work very well because it didn’t make room for the young. – Steve Jobs
Death is very likely the single best invention of life. Its life’s change agent, it clears out the old to make way for the new. – Steve Jobs
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