Media event set for September 9, launch likely ~10 days later.
Tim Cook Faced an 'Insurrection' Following Announcement of Bob Mansfield's Retirement
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.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.