November 8, 2012
Apple’s Cue Joins Ferrari
Talk about your Apple Tax…Apple executive Eddy Cue has just been named to the board of Ferrari.
This is possibly the most press Eddy Cue has received in the span of 2 weeks. Just before the end of October, it was announced that Tim Cook had sent both Scott Forstall and John Browett packing after giving the company some sub-par performances in the past year. Browett hadn’t even seen a holiday quarter as head of retail with Apple before they sent him on his way. He was brought on board to fill the void left by Ron Johnson, who left late last year to turn around the failing JC Penny brand.
As head of iOS software development, Scott Forstall oversaw Apple’s 2 largest software fails in a 12-month period: Siri and Maps. While Siri operated far better than Maps, the fact that it’s still left in “beta” isn’t a point of pride for the iPhone maker.
Tim Cook looked to Eddy Cue, the man who turned MobileMe into the successful iCloud, to turn things around with iOS, giving him the title of Senior Vice President/Internet Software and Services.
Perhaps Cue felt as if fixing the fiasco that is Maps wouldn’t be so time consuming that he couldn’t take on a few additional responsibilities, such as join the board at Ferrari.
Ferrari chairman Luca di Montezemolo announced this new addition, suggesting Cue may have a role in growing Ferrari’s Internet presence.
“I am delighted that Eddy Cue, one of the main driving forces behind Apple’s range of revolutionary products, has now joined our board. His huge experience in the dynamic, innovative world of the Internet will be of great assistance to us.”
Eddy Cue, apparently a Ferrari man himself, was understandably honored to be considered for this position, saying: “I am pleased and proud to become a member of the board. I have personally dreamed of owning a Ferrari since I was 8 years old and have been lucky to be an owner for the past 5 years. I continue to be awed by the world-class design and engineering that only Ferrari can do.”
Of course, this sort of news isn’t all that surprising. Both Apple and Ferrari are known for their attention to detail and design, and both obviously have an appreciation for one another.
Luca di Montezemolo has been quoted before as saying: “Apple and Ferrari are connected by the same passion, the same love for the product, maniacal attention to technology, but also to design.”
Elsewhere in the Ferrari presser, the Italian car maker is reporting a 10% increase in revenue, up to $2 billion American dollars, or 1,764 million euro for the purists. It’s no surprise that Ferrari works on the sell fewer at a higher price model, but it is interesting to note that, according to the press release, America was able to set themselves as Ferrari’s largest market by selling only 1,354 cars so far in 2012. Sales in their hometown of Italy, by the way, were down by 238 cars, or 49%.