: Apple’s cloud chief to be replaced with iTunes creator: Report


Apple Inc.’s AAPL, +3.51% cloud chief is expected to step down next month, according to a Bloomberg News report Friday, citing people close to the matter. Apple shares spent Friday climbing higher and closed up 3.5% at $151.03, compared with a 1.2% gain on the Dow Jones Industrial Average DJIA, +1.17%, a 1.6% gain on the S&P 500 index SPX, +1.61%, and a 2% rise on the tech-heavy Nasdaq Composite Index COMP, +1.97%. In a late Friday report, Bloomberg said Michael Abbott, head of Apple Cloud Services, would step down in April, and be replaced with Jeff Robbin, who is credited with creating iTunes.

This article was originally published by Marketwatch.com. Read the original article here.

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