Here again, Cook deserves some blame. He's the CEO of Apple. Things such as Maps and major retail-related decisions should not get past him.
But they did. He realized he erred. He not only acted, but he covered his own rear end in the process.
Now, retail reports to Cook. I'm not sure Apple needs to or will hire a replacement.
These moves decrease the number of cooks in the kitchen. (Ha, ha). They shorten the circle of high-level influence at Apple, making it much easier for Cook to keep tabs on all of its moving parts.I don't expect the things that ultimately cost Forstall and Browett their jobs to happen again anytime soon. While all of this doesn't ensure that Cook can come up with "the next big thing" Apple needs to carry on the Jobsian magic, it makes me feel a lot better about the guy's ability to manage in a way and maintain the sort of culture, as ruthless as it can be, that helped make Apple great. At the time of publication, the author held no positions in any of the stocks mentioned in this article. Follow @RoccoPendola
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts