Claims it needs millions to retain 'key' employees; Apple, debtors likely to oppose
In a move sure to be opposed by the myriad companies it owes money to, former Apple sapphire supplier GT Advanced Technologies is currently asking a bankruptcy court judge for permission to hand out over two million dollars in "executive bonuses" designed to help motivate and retain "key" employees -- largely the same group of senior executives who ran the company into the ground. In total, the company expects to apply for nearly $6 million in total bonuses and incentives to various levels of employees.
Shin keeps position as mobile division CEO, other mobile executives leaving roles
Samsung is taking a different path than previously thought during its yearly management shuffle, as the South Korean electronics manufacturer is keeping Head of Mobile Communications and Co-CEO Jong-kyun Shin in his post for the time being. However, during the company's yearly management change, at least three other executives in the mobile division will be removed from their positions.
Meeting originally to have discussed both NSA and healthcare reform
Contrary to many media reports, the gathering of tech executives called to a meeting with President Obama were invited to weigh in on the US' digital surveillance policies and programs, and the topic dominated the two-hour meeting while still touching on other topics, such as the government's Healthcare.gov website and general Internet topics. The tech CEOs and representatives urged the government to adopt stricter rules over various NSA-related programs.
McCann, Gingras claimed responsible for BB10 Hub, social apps
BlackBerry has lost two more high-level executives in the last few weeks, according to a report. T.A. McCann, vice president of social networking at the phone manufacturer, is said to have left the company two weeks ago, while senior director of handheld applications Marc Gingras apparently left in "recent weeks."
Change may have come from persuasion by Calpers
[Updated with details, stock grants for BoD] Despite recommending (and obtaining) a "no" vote on a similar measure, Apple has updated its bylaws and now requires executive officers to hold at least three times their annual salary in AAPL stock, reports the Wall Street Journal. The rule adopted by Apple has significant differences from the proposal put forth at Apple's annual shareholder meeting, but embraces the same principle -- that executives (and in this case non-executive directors as well) need to be personally invested in the companies they manage.
Apple sued for fraud
A lawsuit was brought against several key Apple executives on Friday, accusing CEO Steve Jobs and several others of fraud, in relation to the stock option backdating scandal in recent years. According to a filing with the US District Court in San Jose, Jobs stands with former financial officer Fred Anderson, as well as Nancy Heinen, William Campbel, Millard Drexler, Arthur Levinson, and Jerome York, in addition to the company itself.
Apple expands board to 12
Apple recently expanded its executive board from 10 to 12 members, adding to the board a senior vice president of Mac hardware development, and a senior vice president of iPhone software. AppleInsider reveals that the iPhone position was filled by Scott Forstall – formerly the president of iPhone software – while Bob Mansfield was elected to fill a void created by Tim Butcher, who left his position as the Mac development lead in 2004.