Apple names insider Steve Smith as new M&A chief, memo shows (updated)

Apple

08/10/2026 20:46

    (Adds shares)
       Oct 8 (Reuters) - Apple  AAPL.O  appointed insider Steve
Smith as head of mergers and acquisitions, while moving Adrian
Perica to its services division, according to a memo seen by
Reuters on Thursday.
    Perica, a more than 17-year veteran of Apple's M&A and
corporate development function, also took oversight of iCloud,
Fitness+ and News, among other businesses, in 2023, the memo
written by services chief Eddy Cue said.
    Here are some details:
    * Perica will now dedicate his efforts entirely to the
services leadership team and report to Cue, the memo said
    * Apple did not immediately respond to a Reuters request for
comment on the move, which marks one of the latest management
shifts under new CEO John Ternus
    * "We have big plans for services and I'm thrilled to be
getting more of Adrian's time," Cue wrote in the memo
    * Smith will report to Chief Financial Officer Kevan Parekh,
the memo said 
    * The company is also promoting Carson Oliver to vice
president of the App Store, according to Bloomberg News, which
first reported the development earlier in the day
    * Shares of Apple were up about 1.4% on Thursday


    (Reporting by Jaspreet Singh in Bengaluru; Editing by Shilpi
Majumdar)
 ((Jaspreet.Singh@thomsonreuters.com; on X @i_jass;))