Apple Names Steve Smith M&A Chief in Latest Shake-Up Under Ternus

Apple named longtime corporate-development executive Steve Smith its mergers and acquisitions chief, returning M&A to the finance organization under CFO Kevan Parekh for the first time since 2019. Smith replaces Adrian Perica, a 17-year Apple veteran who led M&A for more than a decade; Perica keeps iCloud, Fitness+ and News and now reports to services chief Eddy Cue. In an internal memo seen by Reuters, Cue wrote: "We have big plans for services and I'm thrilled to be getting more of Adrian's time." Carson Oliver was promoted to vice president of the App Store, also reporting to Cue, after Phil Schiller stepped back from day-to-day leadership in August. The changes follow John Ternus succeeding Tim Cook as CEO on Sept. 1. Bloomberg's Mark Gurman first reported the news. Outlets agree on the appointments and reporting lines. CNBC cast the story as the latest change under the new CEO; First Post said Ternus is building a more streamlined organization. Perica and Apple Music chief Oliver Schusser are viewed internally as potential Cue successors, with one option discussed being a split of his role; both worked the 2024 OpenAI/ChatGPT integration and the Google agreement. Jennifer Bailey, head of Apple Pay and Wallet, is retiring this year with no named successor. No succession decision has been announced.