Apple names veteran Steve Smith as new M&A chief

Apple is reshuffling its leadership under CEO John Ternus. Veteran Steve Smith is appointed as the new chief of mergers and acquisitions and corporate development, replacing Adrian Perica. Smith will now report to CFO Kevan Parekh as M&A returns to the finance division. Perica continues overseeing iCloud, Fitness+, and Apple News, reporting to Eddy Cue. Additionally, Carson Oliver has been promoted to vice president. The M&A team manages critical arrangements, including the OpenAI deal for Siri.