AAPL Stock Unchanged amidst Jony Ive’s Promotion

The Memorial Day reveal of Sir Jonathan Ive’s promotion as worked for Apple. The AAPL stock is basically unchanged in pre-market trading today.

As reported earlier, Apple revealed through an unusual route that Jony Ive has been promoted from his current VP of Design to Chief Design Officer at Apple. He will be one of three C-Level executives at Apple going forward. The news has been revealed in a lengthy article about Apple by Stephen Fry in the Telegraph. Nested among an interview with Tim Cook, a Steve Jobs anecdote and the new Apple Campus 2, Fry talks with Ive about his new role at Apple.

In the interview Jonathan Ive introduces his two new VPs that will handle the day to day business. Richard Howarth is the new head of Industrial Design and Alan Dy is the new head of User Interface.

Apple chose Memorial Day to unveil the news of the new management structure because the markets were closed. Wall Street had enough time to think the change through and the Apple stock is unchanged in pre-market trading. 

Is the promotion of Sir Jonathan Ive good or bad for Apple? I believe that this is a well thought out new structure that makes Sir Ive happy and keeps him motivated to work for Apple. It is not like he still has to work a day in his life. It is all about fulfillment and being happy. If Ive is happy, Apple is in good shape moving forward.

Below is the internal email Tim Cook sent to Apple employees announcing the promotion of Jonathan Ive.

Full Tim Cook Memo to employees on new Jony Ive role http://t.co/ZQOo2xDmF9 pic.twitter.com/69NuPKcZkY— Mark Gurman (@markgurman) /4/25, 2015