On October 9, 2026, Apple's recently appointed CEO, John Ternus, orchestrated a significant organizational shake-up by appointing Steve Smith as the successor to Adrian Perica in the role of head of mergers and acquisitions. Notably, for the first instance since 2019, the M&A division will be reintegrated within the finance department, now falling under the purview of Chief Financial Officer Kevan Parekh. In the previous setup, Adrian Perica reported directly to the then-CEO Tim Cook. With this strategic move, the oversight of M&A activities transitions from the CEO's direct supervision to the CFO's domain. Furthermore, upon relinquishing his position as head of M&A, Adrian Perica will retain responsibility for overseeing the iCloud, Fitness+, and News business units, reporting to Eddy Cue, the head of services. Eddy Cue's management responsibilities have also been broadened to encompass the App Store, health, and fitness teams.