Every major hiring and departure at Apple Inc. (NASDAQ:AAPL) creates a stir in the news, simply because the Cupertino electronics firm is so closely watched and monitored. Today, Zane Rowe, the leader of Apple’s North American sales division, departed the company abruptly, making him the second major executive to leave the enterprise today. Neither Apple itself nor Mr. Rowe made any comment as to why this decision was made.
Mr. Rowe has been with Apple (AAPL) for only a short time, having originally been hired in 2012. Interestingly, his departure from his previous employer was just as abrupt and mysterious. He worked as Chief Financial Officer (CFO) for United Continental, receiving $1.13 million annually in salary ($264,423), restricted stock awards, deferred compensation, and various other rewards.
There are some tantalizing parallels between Mr. Rowe’s exit from United Continental and his departure from Apple Inc. (AAPL). He worked for the airline for two years, and a similar time for Apple in the employment that just terminated. He left United in April and Apple in May, on dates scarcely two weeks apart on the calendar, and significant for being immediately after personal income tax filing. In both cases, he gave no reason for leaving, or at least none that is available to the public.
Some differences are also evident, however. Apple (AAPL) is riding a wave of success, while United Continental was then struggling under the double impact of a troubled airline industry and a merger that had unexpected consequences.
While it is possible that Mr. Rowe has insider information about Apple that most investors do not, and this is what is prompting his sudden exit, it seems more likely that this is simply a pattern of personal behavior, possibly related to saving on taxes or getting the most out of a complex retirement plan. The financial whiz appears to join a company, collect a couple of years’ salary and benefits, then move on abruptly in search of fresh horizons. Trying to deduce anything about Apple’s near future prospects on the basis of Zane Rowe’s actions is likely fruitless.
Apple’s top executives appear to be unruffled by Mr. Rowe’s announcement. His successor has already been picked – one Doug Beck, the sales chief for the Korean and Japanese markets. Though not exactly a household name, Mr. Beck is praised by Kristin Huguet, an Apple (AAPL) employee who describes the new sales leader as someone able to do a “great job” in his sales territory.
