Benzinga - by Shanthi Rexaline, Benzinga Editor.
Following news that Apple, Inc. (NASDAQ:AAPL) is pushing ahead with a scaled-back plan for its self-driving car, a report on Friday revealed that a key executive who was instrumental in forming the tech giant’s car team has quit.
What Happened: DJ Novotney, who was vice president of hardware engineering at Apple, communicated his exit from the tech giant on Friday, a Bloomberg report said, citing people with knowledge of the matter.
Novotney is reportedly joining electric-vehicle startup Rivian Automotive, Inc. (NASDAQ:RIVN) as its senior vice president of vehicles programs, reporting directly to CEO RJ Scaringe. His LinkedIn profile, however, does not reflect the rumored move out of Apple. With a nearly 25-year stint at the company, he is still listed as an Apple executive. Novotney joined Apple as a component manager in June 1999 and was involved with the iPod development and Apple-branded iPod accessories. As senior director of iOS devices, he managed iPhone, iPad, iPod and Accessories programs for four years, beginning in April 2010.
Novotney took over the responsibility of vice president of engineering in March 2014.
Bloomberg reported that Novotney had been among the executives brought in by the company a decade ago to start the self-driving car project, which was codenamed “Project Titan.”
“Great products are what we do best and I have been so very lucky along the way to be part of so many amazing teams that developed everything from iPod, iPhone, iPad, Watch and so many more," Novotney wrote in a memo to colleagues, according to Bloomberg.
“Apple has been my life, but now is the time for me to move on and help bring to life a new set of products.”
Apple and Rivian did not immediately respond to Benzinga’s request for comment.
Why It’s Important: Apple’s car project has seen setbacks, including the departure of key executives. The company has also lost executives from its other businesses, with hardware technologies leader Steve Hotelling leaving late last year, Bloomberg reported.
Meanwhile, Tang Tan, the president of product design for the iPhone and Apple Watch, is set to leave in February to join Love From.
For Rivian, the rumored hiring could come in handy as it is working on its next-gen platform to produce affordable electric vehicles. The company’s current product pipeline includes the R1T EV pickup truck, R1S SUV and a electric delivery van. Despite faring relatively better than the rest of the startup ecosystem, Rivian has grappled with slowing EV adoption amid economic uncertainties and cutthroat competition.
Apple ended Friday’s session down 0.90% at $192.42 and Rivian, rallied 1.93% to $15.29, according to Benzinga Pro data.
Read Next: ‘Lost All Visibility’ On The Apple Car Project: It Isn’t Coming Anytime Soon, Says Analyst
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