Chairman Young Liu, who also holds the chief executive officer role, is working on plans to rotate the leaders of various business units through the latter position, most likely for six-month terms.
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Today in Apple history: The App Store gold rush begins cultofmac.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from cultofmac.com Daily Mail and Mail on Sunday newspapers.
Apple has slashed CEO Tim Cook's pay by 40 percent following a recent shareholder vote questioning his massive compensation package. Cook's pay will be more closely tied to Apple's stock performance, which was weak in 2022.