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

Oct 8 (Reuters) – 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

(Reporting by Jaspreet Singh in Bengaluru; Editing by Shilpi Majumdar)