Apple appoints new head for mergers and acquisitions
What's the story
Apple CEO John Ternus is shaking up the company's leadership team, according to a Bloomberg report. Steve Smith, an Apple veteran, will now head mergers and acquisitions (M&A) and corporate development. He takes over from Adrian Perica in this crucial role that handles Apple's strategic deals like the recent partnership with OpenAI for integrating ChatGPT into Siri.
Role transition
Perica to oversee iCloud, Fitness+, and Apple News
Perica will continue to oversee iCloud, Fitness+, and Apple News, a position he has held since 2023.
He will now report to Eddy Cue, who leads the App Store and services.
While Perica reported to Tim Cook in his previous M&A role, Smith will now report to Apple's CFO Kevan Parekh as the M&A team moves back under finance.
Leadership changes
Carson Oliver promoted to vice president of the App Store
Carson Oliver has been promoted to vice president of the App Store after leading it since Phil Schiller stepped down in late August.
He will report to Cue, who now oversees the App Store and other services.
According to Bloomberg, Cue is considering potential successors with Perica as a top candidate along with Apple Music head Oliver Schusser.
Strategic moves
Smith's appointment signals major shift in Apple's M&A strategy
Smith's appointment marks a major shift in Apple's M&A strategy, with the team returning to the finance division for the first time since 2019.
Perica has been instrumental in Apple's self-driving car project, health initiatives, and business expansion for more than 17 years.
He will now focus solely on services under Cue's leadership, further strengthening Apple's strategic direction in this area.