A top management executive at Apple Inc (NASDAQ:AAPL) is leaving one of the world’s largest conglomerates in merely two years of joining, marking a short tenure of the senior management within the company.
What Happened: Carol Surface, who is among 20 executives that directly report to CEO Tim Cook, is departing from iPhone maker after joining in 2023, the move was confirmed Apple spokesperson, according to a Bloomberg report on Wednesday.
Surface was titled as chief people officer who oversees human resources, diversity, inclusion, and recruiting for Apple’s approximately 160,000 employees. She previously held a similar position at a health technology company.
Chief Financial Officer Luca Maestri is stepping down from his role by the end of the year. Maestri will continue to lead the Corporate Services teams, including information systems and technology, information security, and real estate and development
This month marks the retirement of Dan Riccio, a longstanding senior engineering executive who oversaw Vision Pro. The company’s head of procurement, Dan Rosckes, is also leaving. Additionally, Matt Fischer, the head of Apple’s App Store, is departing in October.
Why It Matters: In a 2003 interview, Apple Inc.’s late co-founder Steve Jobs revealed that his strategy for building successful teams was inspired by an English rock band, The Beatles.
While appearing on CBS’s 60 Minutes Overtime, Jobs compared the dynamics of the Beatles to effective business teams. He spoke about how the band members balanced each other’s weaknesses, leading to a synergy that resulted in innovative work.
Last year in October, the tech giant witnessed the exit of about a dozen vice presidents in 2022 and 2023, leading to a wave of promotions to replenish its leadership. The reported reasons for these departures included retirements and the intense pressures associated with the roles.
Price Action: Apple Inc. closed at $231.78 on Wednesday, down 0.89% for the day. In after-hours trading, the stock slipped further 0.18%. Year to date, Apple’s stock has increased by 24.85%, according to data from Benzinga Pro.
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