Apple Inc. is appointing Steve Smith as its new head of mergers and acquisitions, replacing Adrian Perica, who held the position for over a decade, according to Bloomberg. Smith, a longtime lieutenant under Perica, will report to Chief Financial Officer Kevan Parekh, returning the M&A team to the finance division for the first time since 2019, when Perica began reporting directly to then-CEO Tim Cook. The change is the latest management shift under new Chief Executive Officer John Ternus, who took over from Tim Cook on Sept. 1. Perica will remain at Apple overseeing the iCloud, Fitness+ and News businesses, which he has led since 2023, and will report to services chief Eddy Cue. Apple is also promoting Carson Oliver to vice president of the App Store, succeeding in leadership as Phil Schiller reduced his day-to-day responsibilities; Oliver will report to Cue. The services division has seen multiple leadership changes in recent months, with Cue gaining oversight of the App Store and the Health and Fitness teams, while Jennifer Bailey, the longtime head of Apple's Pay and Wallet offerings, is retiring this year and Cue has not yet named a successor for the payments business.
Apple Inc.Apple names Steve Smith as new M&A chief, replacing Adrian Perica, a management change with no clear positive or negative impact.
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