Apple (AAPL) Struggling to Select Next Marketing Chief
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How hard could it be to make Apple's already great products look even more appealing? Very, according to reports Monday.
Former marketing chief Ron Johnson left the company in June for retailer JCPenney (NYSE: JCP), where he took the role of Chief Executive Officer. JCPenney stock jumped on the news, but trickled down through the balance of the summer and are only now getting back to levels when the announcement was made.
At Apple (Nasdaq: AAPL), Johnson launched more than 350 Apple stores worldwide while working with co-founder Steve Jobs. Apple's stores have boosted sales for the company multiple times over, and their simplistic design and layout have consumers that don't even own an Apple product stopping in every now and then to see what's new.
Those are some big shoes to fill, and qualified candidates are getting fewer and further between, according to Bloomberg. Research from Russell Reynolds Associates reports only 64 companies qualify as "global retailers," meaning $1 billion or more in sales on two different continents. Of the total, only five have revenue in the range of Apple, which reported $108 billion in total sales for 2010.
To find someone, Apple's search firm Egon Zehnder Int'l will need to select about 300 qualified candidates, and narrow that field down to about 10 for interviews. With difficulty in finding Johnson's predecessor, some speculate CEO Tim Cook might take up the role. Apple might also just chose an internal candidate; Johnson previously worked with retail VP Jerry McDougal, store personnel leader Steve Cano, and store location head Bob Bridger.
Apple also might want to go with someone from a lifestyle brand like Nike (NYSE: NKE) or Coach (NYSE: COH), to name just a few.
Bloomberg also noted the new marketing chief will have to focus more on overseas expansion than past efforts. CEO Tim Cook currently has laser focus on China, and 30 of the proposed 40 stores set to open next year will be outside the U.S.
Should Apple investors be concerned with new clear candidate present? Probably not... Apple more than likely has one or two years of plans for marketing laid out, meaning nothing drastic will need to be changed immediately. The new candidate will need to expand and execute on that, while keeping Apple's vision for future expansion at the forefront of his/her thoughts.
Former marketing chief Ron Johnson left the company in June for retailer JCPenney (NYSE: JCP), where he took the role of Chief Executive Officer. JCPenney stock jumped on the news, but trickled down through the balance of the summer and are only now getting back to levels when the announcement was made.
At Apple (Nasdaq: AAPL), Johnson launched more than 350 Apple stores worldwide while working with co-founder Steve Jobs. Apple's stores have boosted sales for the company multiple times over, and their simplistic design and layout have consumers that don't even own an Apple product stopping in every now and then to see what's new.
Those are some big shoes to fill, and qualified candidates are getting fewer and further between, according to Bloomberg. Research from Russell Reynolds Associates reports only 64 companies qualify as "global retailers," meaning $1 billion or more in sales on two different continents. Of the total, only five have revenue in the range of Apple, which reported $108 billion in total sales for 2010.
To find someone, Apple's search firm Egon Zehnder Int'l will need to select about 300 qualified candidates, and narrow that field down to about 10 for interviews. With difficulty in finding Johnson's predecessor, some speculate CEO Tim Cook might take up the role. Apple might also just chose an internal candidate; Johnson previously worked with retail VP Jerry McDougal, store personnel leader Steve Cano, and store location head Bob Bridger.
Apple also might want to go with someone from a lifestyle brand like Nike (NYSE: NKE) or Coach (NYSE: COH), to name just a few.
Bloomberg also noted the new marketing chief will have to focus more on overseas expansion than past efforts. CEO Tim Cook currently has laser focus on China, and 30 of the proposed 40 stores set to open next year will be outside the U.S.
Should Apple investors be concerned with new clear candidate present? Probably not... Apple more than likely has one or two years of plans for marketing laid out, meaning nothing drastic will need to be changed immediately. The new candidate will need to expand and execute on that, while keeping Apple's vision for future expansion at the forefront of his/her thoughts.
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