GoPro Inc (NASDAQ:GPRO) Ropes In Apple Inc. (NASDAQ:AAPL) Veteran In A Bid To Revive Its Business

384

Apple Inc. (NASDAQ:AAPL)’s Danny Coster is leaving the company to join GoPro Inc (NASDAQ:GPRO) as the latter’s vice president of design. Coster was an important part of Apple’s industrial design team for over two decades helping in the development of many devices such as the iPhone 4 and the iPad’s wireless keyboard.

Nick Woodman, GoPro founder, and CEO said Coster has excellent design pedigree, and GoPro feels strengthened to have him on board. Coster will be directly under Nick Woodman, who has been battling a falling stock value since mid-2015 as investors are concerned about the organization’s strategy.

GoPro is famous for its action sports cameras but plans to venture into drones as well as virtual reality recording. The company hasn’t disclosed the projects for Coster’s design team but indications are they would be very important ones.

Woodman communicated Coster’s hiring in an email sent to all company members informing that Coster’s title will be vice president of design, and he will join at April end. Coster communicated his move in an interview with a publication based in New Zealand. GoPro’s stock value rose by 18% with news of the hiring of Coster.

As the organization’s vice president of design, Coster will have a direct impact on GoPro’s software, hardware and services offerings. Coster commented that GoPro’s products help capture and distribute life’s most endearing moments.

The recruiting of Coster is a big victory for GoPro whose business viability has come under scrutiny lately. Last quarter the organization had a loss of 8 cents per share. Also, revenue decreased 32% compared to last year with lower than expected sales of its action camera. This January GoPro declared that it would slash 7% of its personnel.

The company is venturing into other markets to increase its business. GoPro declared it would release its own drone this year. Also, the organization introduced a 360-degree camera rig named Odyssey for virtual reality.

An ad to help with our costs