Tag Archives: Appoints

Apple Music appoints new head, hits 48 million subscribers
April 11, 2018 6:01 pm|Comments (0)

(Reuters) – Apple Inc on Wednesday appointed a new executive to oversee its Apple Music streaming business and hit 48 million subscribers, the company said.

Apple said it had appointed Oliver Schusser as vice president of Apple Music and international content. Schusser, who joined Apple 14 years ago, will report directly to Apple senior vice president Eddy Cue and will also oversee Apple’s services outside the United States, including the App Store and iTunes.

Apple’s top streaming music rival Spotify Technology SA has 71 million so-called premium subscribers, a figure that includes users who have given the company a credit card number for a free trial. Spotify became a public company earlier this month after holding a so-called direct listing on the New York Stock Exchange.

On a comparable basis, the Apple Music service has 48 million subscribers, 40 million of whom are paying subscribers and 8 million of whom are on a free trial, Apple said. Both firms charge $ 9.99 a month for streaming music but provide discounts for student and family plans.

Variety magazine earlier reported the new subscriber figures and Schusser’s promotion. He previously built up Apple’s services businesses outside the U.S. in 155 markets, including China, Japan and Latin America, Apple said.

Apple’s services business, which includes Apple Music, the App Store and iCloud, is becoming increasingly important to the Apple’s financial outlook because the smart phone market has matured and iPhone sales growth has slowed. In its most recent quarter, Apple’s services business grew 18 percent to $ 8.4 billion, missing analyst expectations of $ 8.6 billion.

(This version of the story corrects paragraph 1 to Wednesday instead of Thursday)

Reporting by Stephen Nellis; Editing by Bernadette Baum

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India's Infosys appoints outsider Parekh as CEO
December 2, 2017 12:21 pm|Comments (0)

MUMBAI (Reuters) – Infosys, India’s No.2 IT services company, named Salil S Parekh as chief executive on Saturday, picking an outsider for the job a second time and handing him the twin challenges of reviving growth and making peace between its founders and board.

FILE PHOT: The Infosys logo is seen at the SIBOS banking and financial conference in Toronto, Ontario, Canada October 19, 2017. REUTERS/Chris Helgren

Parekh, who will join from consultancy firm Capgemini where he is currently an executive, has been given a 5-year term effective Jan.2, an Infosys filing to exchanges showed.

U.B. Pravin Rao who was serving as the interim CEO has been re-designated as chief operating officer from Jan. 2, Infosys said.

“After a comprehensive global search effort, we are pleased to appoint Salil as the CEO & MD,” said Kiran Mazumdar-Shaw, chairperson of the nomination & remuneration committee at Infosys.

“He was the top choice from a pool of highly qualified candidates. With his strong track record and extensive experience, we believe, we have the right person to lead Infosys.”

Former CEO Vishal Sikka announced a sudden exit in August after a protracted public spat with the company’s founding executives, led by Narayana Murthy, over strategy and alleged corporate governance lapses.

Sikka, who joined from German software maker SAP SE in 2014, was the first outsider to be appointed CEO of the Bengaluru-headquartered company.

His exit and the prolonged public row led to a reshuffling of the Infosys’ board with Nandan Nilekani, a co-founder and former CEO, returning as non-executive chairman.

Nilekani, credited with four-fold growth in Infosys’ revenue to $ 2 billion during his tenure as CEO, had said at the time that cultural fit would be an important criteria for the top job, making internal candidates “very strong contenders”.

Reporting by Suvashree Dey Choudhury and Sankalp Phartiyal; editing by Rafael Nam and Jason Neely

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