Tag - Bob Mansfield
Newly-published SEC filings reveal that on Wednesday, Apple awarded six top executives 35,780 restricted stock units each. Recipients include senior VP of Operations Jeffrey Williams; general counsel Bruce Sewell; senior VP of Worldwide Marketing Phil Schiller; senior VP of Hardware Engineering Dan Riccio; senior VP of Software Engineering Craig Federighi; and finally, senior VP of Internet Software and services Eddy Cue.
While Bob Mansfield looks after Apple's special projects, two senior VPs -- Hardware leader Dan Riccio and Operations head Jeff Williams -- are handling his former duties as senior VP of Technologies, sources say. Riccio's tasks now include overseeing antenna design for mobile and the Wi-Fi components in all of Apple's major products. The situation is a reversal of the one that brought Mansfield out of his recent retirement, in which he was asked to transition wireless teams over to Riccio.
Bob Mansfield's departure from the Apple executive team was made at his request so he could focus on new products, without being distracted by work on the executive committee, an anonymous source tells Bloomberg. Prior to this week, Mansfield was the company's senior VP of Technologies. He is now involved solely with "special projects," though what that means hasn't been identified officially or by sources.
[Update: clarification of the shift of duties, not leaving Apple] Bob Mansfield -- an Apple engineering veteran, and former senior VP of Hardware Engineering -- is no longer an Apple executive, a company spokesman has confirmed with AllThingsD. Prior to his unannounced disappearance from the executive team webpage, Mansfield was listed in the recently-created position of Senior VP of Technologies. Mansfield had planned to retire from the company, but was enticed by CEO Tim Cook to stay on with the executive team in late 2012, possibly to work on Appleís rumoured iWatch and to help the replacement SVP of Hardware Engineering, Dan Riccio, transition into his new role.
Apple has started assembling a team of people specializing in fitness, medical sensors, manufacturing, and hardware and software engineering in order to produce a fitness-focused wearable computer chock full of sensor technology, sources say. Apple is stated to have experimented with a number of designs in the past, including ones that could clip onto clothing, like an iPod shuffle. Currently though the company is thought to have returned to a wrist-wrapped device, likely the iWatch.
Four out of the top five highest-paid executives among Standard & Poor 500 companies belonged to Apple during 2012, according to the Securities and Exchange Commission filings seen by Bloomberg. The people included senior VP of Technologies Bob Mansfield, CFO Peter Oppenheimer, senior VP of Operations Jeff Williams, and general counsel Bruce Sewell. About 80 percent of S&P 500 companies had submitted 2012 data as of April 12. The figures for the Apple execs are based on the total current worth of their possible stock and pay packages, rather than their actual 2012 salaries and bonuses.
As reported previously, a possible reason for the number of Apple executives cashing out some portion of their holdings in the company -- despite the fact that the stock has only just begun a recovery from a six-month low in price -- may be to avoid the strong possibility that taxes on capital gains are likely to go up in January. Newly-minted Senior VP of Technologies Bob Mansfield, the former head of hardware, has joined the club -- cashing in 35,000 shares to reap a pre-tax windfall of $20.3 million.
Bob Mansfield's return to Apple was partly enabled by the departure of Scott Forstall, a source described as close to the company tells AllThingsD. "The timing of Bobís return is not coincidental," the person explains, elaborating that Mansfield didn't like Forstall's confrontational management. Several sources say that Mansfield generally tried to avoid Forstall; this may be backed up by a 2011 Bloomberg report, which said that Mansfield would only meet with Forstall if CEO Tim Cook was around to mediate.
Apple CEO Tim Cook had to deal with an "insurrection" when it was announced that Bob Mansfield -- formerly Apple's senior VP for hardware engineering -- was retiring, three Bloomberg sources say. The people claim that after the announcement, several senior engineers on Mansfield's team complained to Cook; they argued that Mansfield's replacement, Dan Riccio, was unprepared for the importance of the job. To get Mansfield to return to the company, Cook reportedly offered him "an exorbitant package of cash and stock worth around $2 million a month."
Apple's senior VP for hardware engineering, Bob Mansfield, will be staying with the company in spite of an earlier statement that he was retiring, according to an announcement. He will take on a new title, but what that might be is so far undisclosed. Apple will only say that he's expected to "work on future projects" and continue to report to CEO Tim Cook.
Now AAPL Stock: 94.02 ( -2.58 )
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Seagate 3TB unreliability suit expands
The Seagate 3TB class-action hard drive lawsuit has been expanded to more devices. The expanded suit, filed today, now includes Seagate's Barracuda 3TB Hard Disk Drive,¬†Desktop HDD 3TB, Backup Plus 3TB External Hard Disk¬†Drive,¬†GoFlex 3TB External Hard Disk Drive, or any other Seagate hard drive with model number ST3000DM001. The law firm, Hagens Berman, is seeking information from consumers such as time in service, purchase price, and the nature of any drive received in return from Seagate as a replacement for a failed unit. http://bit.ly/1Pc34Cq