Apple names Steve Smith to lead mergers and acquisitions

Apple is appointing company veteran Steve Smith as its new head of mergers and acquisitions, Bloomberg reported on Thursday, Oct. 8, 2026. Smith replaces Adrian Perica, who led Apple's dealmaking efforts for more than a decade.

The change marks the latest leadership adjustment under CEO John Ternus, who took over from Tim Cook on Sept. 1. Smith previously worked as a longtime lieutenant under Perica and will report to CFO Kevan Parekh. This move returns the M&A team to Apple's finance division for the first time since 2019, when Perica began reporting directly to Cook.

Perica will remain at Apple to manage iCloud, Fitness+ and News, businesses he has overseen since 2023. In that capacity, Perica will report to services chief Eddy Cue.

Apple is also promoting Carson Oliver to vice president of the App Store, reporting to Cue. Oliver took over operational leadership of the App Store in recent months as Phil Schiller reduced his day-to-day duties. Cue has taken oversight of the App Store along with the Health and Fitness teams. Jennifer Bailey, who has long led Apple Pay and Wallet, is retiring this year, and Cue has not yet selected a successor for the payments group.