Apple appointed insider Steve Smith to head its mergers and acquisitions division, shifting long-serving veteran Adrian Perica to its services group, according to an internal memo reviewed by Reuters on October 8. The shift marks one of the latest management changes under new Chief Executive Officer John Ternus.
Steve Smith Takes Over Mergers and Acquisitions
In his new position, Smith will report directly to Chief Financial Officer Kevan Parekh. This structural shift returns the M&A team to the finance division for the first time since 2019, when Perica began reporting directly to former CEO Tim Cook.
Apple did not immediately respond to Reuters requests for comment regarding the executive shuffle. Meanwhile, the company’s stock experienced a modest lift, gaining about 1.4% on Thursday following the news.
Adrian Perica Shifts Entirely to Services
Adrian Perica concludes a tenure of more than 17 years leading Apple’s corporate development and M&A functions. In 2023, he took on broader responsibilities, adding oversight of iCloud, Fitness+, and News to his portfolio. Perica will now dedicate his efforts entirely to the services leadership team, reporting to services chief Eddy Cue.
We have big plans for services and I’m thrilled to be getting more of Adrian’s time,
Eddy Cue wrote in the internal memo.
Carson Oliver Promoted to Vice President of the App Store
Alongside the M&A transition, the corporation is elevating Carson Oliver to vice president of the App Store, according to initial reporting by Bloomberg News. Oliver assumed operational leadership of the App Store in recent months as longtime head Phil Schiller scaled back his responsibilities. Schiller previously managed both the storefront and Apple special events.
