Apple CEO John Ternus has initiated a leadership change in the company's mergers and acquisitions division. Steve Smith has been appointed as the new head of M&A, replacing Adrian Perica. Under this new structure, Smith will report directly to CFO Kevan Parekh, marking the first time since 2019 that the M&A team has been integrated into the finance department.
The M&A team manages corporate acquisitions and strategic partnerships, including the 2024 agreement to integrate ChatGPT into Apple products and the long-term search arrangement with Google. Previously, Perica reported directly to CEO Tim Cook, but the function has now been moved under the oversight of the CFO.
Adrian Perica will transition to a new role overseeing iCloud, Fitness+, and News, reporting to services chief Eddy Cue. This move centralizes core service management under Cue, who has also added the App Store and health and fitness teams to his portfolio.
Additionally, Carson Oliver has been promoted to vice president of the App Store, taking over daily operations. Phil Schiller, who has long managed the App Store and Apple events, has been gradually stepping back from his day-to-day responsibilities over the past few months.
