Tag - JC Penney
Apple CEO Tim Cook was the highest-paid CEO of 2011, according to a study released by the Hay Group and the Wall Street Journal. Cook's package for the year was valued at $378 million, although most of it is locked up in the form of stock grants issued after he took control from Steve Jobs in August. The first half of the shares will vest in 2016; the remainder will follow in 2021, contingent on Cook staying with Apple.
As a part of a management expansion, JC Penney has hired a core member of Apple's retail design staff, Benjamin Fay, as its new executive VP of real estate, store design and development. The press release contains a statement from JCP CEO Ron Johnson, who was long the head of Apple's retail division until he left last November. "Ben is an incredibly creative professional with extraordinary leadership skills. Having worked with him over the last 12 years, I am delighted to see Ben step into this new role at jcp," the quote reads. "His design influence has made the Apple stores highly regarded retail destinations around the world, and I am excited to have Ben place his own mark on jcp as we re-imagine the jcpenney store of the future."
In all Apple CEO Tim Cook pulled in about $378 million in 2011, even if most of that money won't be available to him for years, according to the New York Times. The bulk, $376.2 million, consisted of a one-time stock grant that won't vest unless Cook stays with Apple for 10 years. In terms of immediate pay, his combined salary, bonuses, and miscellaneous perks during the year amounted to $1.8 million.
Former Apple head of retail Ron Johnson, now CEO of JC Penney, has had to defend one of his first decisions in the face of an online campaign to force the company to abandon its new spokesperson, comic and talk show host Ellen DeGeneres. Accusing the company of "jumping on the pro-gay bandwagon" by hiring DeGeneres, who is an open lesbian, the 40,000-member group "One Million Moms" posted a note on Facebook and called on its members to call the retail chain.
Eolas' attempt to patent the "interactive web" may have been dealt a permanent blow after a jury in the normally patent lawsuit-friendly town of Tyler, Texas ruled that the patent was invalid. The decision negated both any attempts at claiming damages and also negated three future trials. The rejection came in part after testimony from the spiritual creator of the web, Tim Berners-Lee, as well as individual creators whose work predated that of Eolas owner Michael Doyle.
ForeSee late Tuesday gave the nod to technology-driven online shops for satisfaction with online shopping during the holidays. Amazon led the group with a new high of 88 points. A one-point climb by Apple was enough to put it at a new high of 83 and a five-way tie with Avon, QVC, VistaPrint, and JC Penney, now headed by Apple's former retail VP Ron Johnson.
Ron Johnson, Apple's outgoing retail head, will only be assuming full duties as JC Penney CEO on February 1st, a report says. Johnson is officially slated to take the CEO title on November 1st, but in explanation JC Penney states that he will initially handle only marketing and merchandising. The plan is for a three-month transition, with Johnson's predecessor -- Myron Ullman III -- serving as executive chairman.
(Updated with an Apple statement) Apple lost a cornerstone of its retail efforts on Tuesday as its retail VP Ron Johnson exited to become the CEO of JC Penney. He would replace Mike Ullman in the top spot on November 1 and would join the board of directors on August 1. Ullman would stay on as executive chairman of the board.
Now AAPL Stock: 120 ( + 0.22 )
Cirrus creates Lightning-headphone dev kit
Apple supplier Cirrus Logic has introduced a MFi-compliant new development kit for companies interested in using Cirrus' chips to create Lightning-based headphones, which -- regardless of whether rumors about Apple dropping the analog headphone jack in its iPhone this fall -- can offer advantages to music-loving iOS device users. The kit mentions some of the advantages of an all-digital headset or headphone connector, including higher-bitrate support, a more customizable experience, and support for power and data transfer into headphone hardware. Several companies already make Lightning headphones, and Apple has supported the concept since June 2014. http://bit.ly/29giiZj
Apple Store app offers Procreate Pocket
The Apple Store app for iPhone, which periodically rewards users with free app gifts, is now offering the iPhone "Pocket" version of drawing app Procreate for those who have the free Apple Store app until July 28. Users who have redeemed the offer by navigating to the "Stores" tab of the app and swiping past the "iPhone Upgrade Program" banner to the "Procreate" banner have noted that only the limited Pocket (iPhone) version of the app is available free, even if the Apple Store app is installed and the offer redeemed on an iPad. The Pocket version currently sells for $3 on the iOS App Store. [32.4MB]
Porsche adds CarPlay to 2017 Panamera
Porsche has added a fifth model of vehicle to its CarPlay-supported lineup, announcing that the 2017 Panamera -- which will arrive in the US in January -- will include Apple's infotainment technology, and be seen on a giant 12.3-inch touchscreen as part of an all-new Porsche Communication Management system. The luxury sedan starts at $99,900 for the 4S model, and scales up to the Panamera Turbo, which sells for $146,900. Other vehicles that currently support CarPlay include the 2016 911 and the 2017 models of Macan, 718 Boxster, and 718 Cayman. The company did not mention support for Google's corresponding Android Auto in its announcement. http://bit.ly/295ZQ94
Apple employees testing wheelchair features
New features included in the forthcoming watchOS 3 are being tested by Apple retail store employees, including a new activity-tracking feature that has been designed with wheelchair users in mind. The move is slightly unusual in that, while retail employees have previously been used to test pre-release versions of OS X and iOS, this marks the first time they've been included in the otherwise developer-only watchOS betas. The company is said to have gone to great lengths to modify the activity tracker for wheelchair users, including changing the "time to stand" notification to "time to roll" and including two wheelchair-centric workout apps. http://bit.ly/2955JDa
SanDisk reveals two 256GB microSDXC cards
SanDisk has introduced two 256GB microSDXC cards. Arriving in August for $150, the Ultra microSDXC UHS-I Premium Edition card offers transfer speeds of up to 95MB/s for reading data. The Extreme microSDXC UHS-I card can read at a fast 100MB/s and write at up to 90MB/s, and will be shipping sometime in the fourth quarter for $200. http://bit.ly/294Q1If
Apple's third-quarter results due July 26
Apple has advised it will be issuing its third-quarter results on July 26, with a conference call to answer investor and analyst queries about the earnings set to take place later that day. The stream of the call will go live at 2pm PT (5pm ET) via Apple's investor site, with the results themselves expected to be released roughly 30 minutes before the call commences. Apple's guidance for the quarter put revenue at between $41 billion and $43 billion. http://apple.co/1oi1Pbm
Twitter stickers slowly roll out to users
Twitter has introduced "stickers," allowing users to add extra graphical elements to their photos before uploading them to the micro-blogging service. A library of hundreds of accessories, props, and emoji will be available to use as stickers, which can be resized, rotated, and placed anywhere on the photograph. Images with stickers will also become searchable with viewers able to select a sticker to see how others use the same graphic in their own posts. Twitter advises stickers will be rolling out to users over the next few weeks, and will work on both the mobile apps and through the browser. http://bit.ly/29bbwUE