Jony Ive’s Exit Causes $8 Billion Blow to Apple

As the news of Apple’s chief designer Jony Ive’s departure broke, the stock market took notice. So much so, in fact, that the company’s shares dropped USD$8 billion in value just hours after the press release was released.

The sharp decline of stock price means that as of now, the shares are worth about 0.80 per cent less, eroding the company’s worth to a measly USD$910 billion.

The man to credit the brand’s clean and slick design is leaving the tech giant to venture on his own as he’s preparing to start his design business, LoveFrom, with a fellow designer Marc Newson.

The company’s CEO, Tim Cook, reassured the public Ive and Apple would, “Remain close and work together long into the future.”

Since joining Apple in 1992, Ive has played a pivotal role in the Apple tale we know today. With the company on the verge of bankruptcy and Steve Job’s return in 1997, in what would be the beginning of a collaborative tango, the newly promoted Senior Vice President of Industrial Design and the founder took only a year to launch the first iMac desktop computer (1998) and another three years to release the first iPod (2001).

Jony and his team proceeded to push the limits, changing the rules of the global tech game when they debut the first iPhone back in 2007 and made history once more in 2010 when the first iPad stole the spotlight and became the fastest selling gadget of all time.

In 2012, Jony and his team were named the Best Design Studio of the past 50 years by the Global Association for Creative Advertising & Design Awards (D&AD).

The legacy that Ive is leaving behind is not just a quintessential assortment of Apple’s products, but a tech revolution he started with the late entrepreneurial legend. Alongside their visionary spirit, it was the inquisitiveness that tightened their bond and bolstered mutual trust. When talking about Jony, the investor described him as someone who, “Has more operational power than anyone else at Apple, except me.”

After the departure of the business magnate, Jony continued to be the respiratory system of the company, focusing mainly on designing the new, out of this world, Apple headquarters in Cupertino, California, which were completed recently.

Known as the voice behind Apple promotional videos, praised for his brilliance and impeccable aesthetics, the world is anxiously waiting to see what the dauntless designer will create next.