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Tim Cook Faced an 'Insurrection' Following Announcement of Bob Mansfield's Retirement

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Apr 12, 2001
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Earlier this year, Apple announced that hardware chief Bob Mansfield would be retiring, staying on for several months as iPad hardware engineering chief Dan Riccio transitioned into the broader role overseeing the company's entire hardware effort. But just two months later, Apple announced that Mansfield would be staying on, retaining his senior vice president title but without a specific role other than to "work on future products".

A new report from Bloomberg Businessweek profiling Apple one year after the death of Steve Jobs reveals the backstory behind Mansfield's reversal, noting that Apple CEO Tim Cook found himself facing an "insurrection" from Apple employees following Mansfield's retirement announcement.
According to three people familiar with the sequence of events, several senior engineers on Mansfield's team vociferously complained to Cook about reporting to his replacement, Dan Riccio, who they felt was unprepared for the magnitude of the role. In response, Cook approached Mansfield and offered him an exorbitant package of cash and stock worth around $2 million a month to stay on at Apple as an adviser and help manage the hardware engineering team.
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Officially, Apple's hardware engineering group is now under the oversight of Riccio, so it is unclear exactly how Mansfield and Riccio are working together on their projects. Both executives report directly to Cook, and it is unknown how long Mansfield intends to remain with Apple.

Article Link: Tim Cook Faced an 'Insurrection' Following Announcement of Bob Mansfield's Retirement
 
Article Link
https://www.macrumors.com/2012/10/03/tim-cook-faced-an-insurrection-following-announcement-of-bob-mansfields-retirement/
2 Million A Month!?

2 Million a month!!?? That's a lot of dough to stay on! Dang!!!

:eek::eek::eek::eek:

Mansfield: "If they would have just offerred me 2 weeks more vacation, I would have took it!" ha ha
 
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kjs862 said:
Things with Apple haven't sit right with me lately.
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Why? All smart companies do that for their most valuable employees; they can't stop anyone from quitting or retiring, but what they can do is keep them as advisors or consultants onboard.
 
I'm actually surprised it was a monetary decision. I figured it was a vacation/retirement/new opportunities one and no amount would sway him.
 
Can't say this is the "beginning of the end", but it surely isn't business as usual. Things are definitely changing - who knows if it's for the better or worse.
 
Obscurelight said:
In before Steve will never allow this. Although he probably wouldn't have lol
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Actually, I think it's exactly what Steve would have done. Steve spoke a lot about hiring and how keeping the best people working for you is important.
 
$24m for an Exec in a $600+Bn company is nothing. Especially if you're keeping hold of an apparently really smart guy as a result.
 
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