Apple Sheds $5 Billion in Value as Designer Jony Ive Plans Cupertino Departure

shares traded lower Friday following news that one of its key designers, Jony Ive, will leave the tech group later this year following three decades at the center of its creative focus. London-born Ive, who joined Apple in 1992, was considered a close confidant of co-founder Steve Jobs and was credited with leading the group’s cutting-edge designs of the 1990s, including the brightly-colored iMac, as well as the group’s iconic iPhones that followed a decade later. Ive, who was made ‘Knight Commander of the Order of the British Empire’ for services to design and enterprise in 2012, will be replaced by Alan Dye and Evans Hankey.

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