Bloomberg, citing sources, reports that Apple’s Phil Schiller has stepped down from his role leading the App Store and product events. Bloomberg describes Schiller as one of Apple’s most visible and influential executives across both the Steve Jobs and Tim Cook eras. Techmeme’s summary of Mark Gurman’s Bloomberg report adds that Schiller will remain at Apple and work on unspecified initiatives. The provided summaries do not name a replacement, explain the reason for the change, or detail how responsibilities for the App Store and product events will be reassigned. The report describes the leadership change as having already happened, while attributing it to sources. For Apple watchers, the immediate importance is limited to the functions involved. The available reporting says Schiller stepped down from leading the App Store and product events, but does not say what operational changes, if any, follow from it. Who benefits: Too little is reported to identify clear beneficiaries. The summaries only say Schiller will remain at Apple to work on unspecified initiatives. Who's exposed: Too little is reported to identify who is exposed. The summaries do not indicate any policy, product, or process changes.