updated 09:10 pm EST, Tue January 17, 2012
Recent raise, promotion seen as rewards
Recently-promoted Senior Vice President of Internet Software and Service at Apple Eddy Cue has played a much more prominent role in Apple's success than has been widely known, according to a new book about Apple being released January 25th. Inside Apple by Adam Lashinsky paints Cue as a "problem solver" for both former CEO Steve Jobs and current Apple head Tim Cook, with Cue specializing in the key work of negotiating with other companies.
Cue was the man responsible for finalizing negotiations with the record companies for iTunes as well as movie studios and TV producers for the iTunes Store. It was Cue who has remade the less-successful MobileMe service into iCloud, persuaded Steve Jobs to go with ARM and not Intel for the early iPhone, and who (according to the book) actually led the initial iPhone discussions with AT&T.
He has also championed the iBookstore, had a hand in the creation of the iLife suite and was prominent in the negotiations to bring Rupert Murdoch's digital magazine The Daily to the iPad, a move that opened the floodgates for magazine publishers to go digital. He is presently in charge of all of Apple's iTunes stores as well as iCloud, iAd and the iWork group.
Cue has recently been rewarded for his efforts by the board of directors and CEO Tim Cook for his efforts. In addition to a promotion that greatly increases his responsibilities, Cue saw his salary greatly increased to $700,000 per year, along with a bonus for his promotion of 100,000 stock options (currently valued at around $42 million). The stock options are said to be vesting in two years and are contingent on Cue's continued employment. Under Jobs, Cue had been the lowest-paid of the senior executive team, but also did not have as many duties as he does with the promotion.
He is said to be leading negotiations with content producers and cable providers for the rumored Apple HDTV television, and will likely play a significant role at this month's education-focused special event being held in New York on January 24th.