4 ms·
He oversaw Siri and Maps, two products which over-promised and under-delivered, and six months ago he cashed out 95% of his Apple stock. I think it was evident
by mratzloff 14y ago
He oversaw Siri and Maps, two products which over-promised and under-delivered, and six months ago he cashed out 95% of his Apple stock.
I think it was evident he lost the power struggle and it killed his enthusiasm. His heart just wasn't in it anymore.
- ricardobeat 14y agoThat's interesting, do you have a source for the stock cash-out?
- mratzloff 14y agoSure. Here you go: http://news.cnet.com/8301-13579_3-57425920-37/apple-exec-scott-forstall-sells-off-95-percent-of-his-shares/ http://news.cnet.com/8301-13579_3-57425920-37/apple-exec-sco...
- ricardobeat 14y agoThanks! Interesting quote: Although a major sell-off can sometimes mean an executive is leaving a company, that might not be the case with Forstall. I wonder why this didn't generate any rumours of his departure at the time?
- jason_slack 14y agoI think this is more interesting: "Forstall has made it abundantly clear inside Cupertino that he would like to eventually be Apple's chief executive, adding that "he wears his ambition in plainer view than the typical Apple executive.""
- fudged71 14y agoPower struggle. It'll be interesting to see where he goes next.
- bonzoesc 14y agohttp://biz.yahoo.com/t/32/7675.html http://biz.yahoo.com/t/32/7675.html
- brudgers 14y ago75,000 options vesting in 2013 and 100,000 vesting in 2014 probably explain the year as adviser - i.e. fiscal year 2013 ends October 1, 2013 so one year from today is probably adequate for those options to vest and may have been an equitable way to resolve severance negotiations.
- cpeterso 14y agoWhy even have a vesting period if the company is going to give them to executives anyway? If Tim wants Scott out, then why pamper him with free money? It's not benefiting shareholders.
- brudgers 14y agoI suspect the stock options were to help maintain the illusion of stability and unity in the period before and after Jobs' death. 75,000 shares is a lot of money for one person but if it keeps the stock price a couple of dollars higher it is a net benefit to shareholders. Apple has more than 939 million shares, maintaining $1.00 in share price is nearly a billion dollars in shareholder value.
- fpgeek 14y agoIf the influence of the vesting schedule helps delay his (presumed) move to a competitor, I'd say it benefits shareholders plenty.