Apple names new head of mergers and acquisitions, per report

Apple is set to undergo further leadership shifts as the John Ternus era progresses. According to a Bloomberg report, the tech giant has appointed Steve Smith as the new head of mergers and acquisitions. Smith will be replacing Adrian Perica, who has been in the role since 2009 and led the M&A and corporate development teams for more than a decade. Smith is described by Bloomberg as Perica's "longtime lieutenant" and will report to CFO Kevan Parekh.

On the other hand, Perica is reportedly moving into a more prominent role within Apple's services division. He has been leading key services such as iCloud, Fitness+, and Apple News since 2023. As part of his new position, Perica will now report directly to services boss Eddy Cue. Interestingly, Perica, along with Apple Music leader Oliver Schusser, is considered a potential successor to Cue.

Both Perica and Schusser are seen as leading candidates to eventually replace Cue, with some discussions even suggesting splitting Cue's responsibilities between the two executives.