Apple Names Steve Smith M&A Chief in Leadership Shakeup

Apple Inc. is making significant changes to its executive leadership, appointing Steve Smith as its new head of mergers and acquisitions (M&A) as the technology giant continues restructuring its management team under newly appointed Chief Executive Officer John Ternus.

According to a Bloomberg report published Thursday, Smith will replace Adrian Perica, who led Apple's mergers and acquisitions operations for more than a decade. The appointment marks another major leadership adjustment following Ternus' succession of longtime CEO Tim Cook on September 1.

Smith, a veteran Apple executive who worked closely with Perica for years, will report directly to Chief Financial Officer Kevan Parekh. The reporting change brings Apple's M&A operations back under the finance division for the first time since 2019, when Perica began reporting directly to Cook.

Despite stepping down from his M&A leadership position, Perica will remain with Apple. He will continue managing the company's iCloud, Fitness+ and Apple News businesses, responsibilities he assumed in 2023. Under the revised structure, Perica will report to Eddy Cue, Apple's senior executive overseeing services.

Meanwhile, Apple is promoting Carson Oliver to vice president of the App Store, strengthening its leadership structure within the company's expanding services division.

Oliver has already been overseeing App Store operations in recent months as Phil Schiller, who previously managed the platform and Apple's major product events, gradually reduced his daily responsibilities. Oliver will also report directly to Cue.

The latest executive appointments follow several management changes across Apple's services business, which has become an increasingly important component of the company's broader operations.

Cue has recently expanded his responsibilities to include oversight of the App Store alongside Apple's Health and Fitness teams, consolidating several major consumer services under his leadership.

Additional changes are expected as Jennifer Bailey, the longtime executive responsible for Apple Pay and Wallet, prepares to retire later this year. Apple has not yet announced who will succeed Bailey in managing its payments operations.

The leadership reshuffle highlights Apple's ongoing organizational transition under Ternus, with changes affecting corporate acquisitions, digital services and payments. The restructuring also establishes new reporting relationships as the company adjusts its executive management following Cook's departure from the CEO position.