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

Apple 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.