Late last week, Apple announced that long time employee Eddy Cue was being promoted to the Senior VP of Internet Software and Services. As part of his new role, Cue will over see Apple's iTunes App Store, Music Store, iBookstore, in addition to overseeing its upcoming iCloud service and its somewhat struggling iAd initiative.
With Steve Jobs no longer serving as the CEO of Apple, there has been a bit of re-shuffling amongst Apple executives. Naturally, Tim Cook has moved from COO to the CEO position, and late last week Apple welcomed a new member onto the executive team – Eddy Cue.
Late last week, Apple announced that long time employee Eddy Cue was being promoted to the Senior VP of Internet Software and Services. As part of his new role, Cue will over see Apple’s iTunes App Store, Music Store, iBookstore, in addition to overseeing its upcoming iCloud service and its somewhat struggling iAd initiative.
Highlighting Cue’s promotion, newly minted CEO Tim Cook sent out the following company-wide email:
Team,
It is my pleasure to announce the promotion of Eddy Cue to Senior Vice President of Internet Software and Services. Eddy will report to me and will serve on Apple’s executive management team.
Eddy oversees Apple’s industry-leading content stores including the iTunes Store, the revolutionary App Store and the iBookstore, as well as iAd and Apple’s innovative iCloud services. He is a 22-year Apple veteran and leads a large organization of amazing people. He played a major role in creating the Apple online store in 1998, the iTunes Music Store in 2003 and the App Store in 2008.
Apple is a company and culture unlike any other in the world and leaders like Eddy get that. Apple is in their blood. Eddy and the entire executive management team are dedicated to making the best products in the world that delight our customers and make our employees incredibly proud of what they do.
Please join me in congratulating Eddy on this significant and well-deserved promotion. I have worked with Eddy for many years and look forward to working with him even closer in the future.
Tim
An Apple employee since 1989, Cue has steadily risen through the ranks at the company and first became a household name (in the Apple blogosphere at least) when he was put in charge of MobileMe following its less than stellar roll-out a few years back.
And much how Apple’s board rewarded Tim Cook with some alluring stock options, the Apple Board rewarded Cue’s ascention to the executive team with over 100,000 shares of restricted stock. At Apple’s current valuation, the shares are worth more than $37 billion.
As for when Cue can cash them in, half of them will vest on August 24, 2013 and the other half will vest 2 years later on August 24th, 2015.
via Apple
