Apple Inc. AAPL will be separated from his AppStore Head, Matt Fisherwho has been at the top of the App Store business since 2010.
What happened: On Wednesday, Fischer said in an email to his team: “After 21 years at Apple, I have made the decision to leave our incredible company.”
In the same email, he also expressed that the restructuring was the right time to hand over the reins to two exceptional leaders on his team.
Fischer will leave the company in October, Bloomberg reported, citing people familiar with the matter.
See also: How to take the perfect moon photo with an iPhone 15
The App Store division will be split into two teams: one to manage the Apple Store and the other to oversee the distribution of alternative apps.
With the restructuring, Apple is responding to regulatory pressure that is forcing Apple to allow alternative stores and payment methods for apps on its devices. Phil Schillerthe manager responsible for the App Store, is leading these changes, the report says.
Executive Director Carson Oliver will lead the App Store group, while Ann-Thaia director responsible for App Store functions will lead the new alternative distribution team. Both will report to Schiller.
Apple did not immediately respond to Benzinga’s request for comment.
Subscribe to the Benzinga Tech Trends newsletter to get all the latest tech developments delivered to your inbox.
Why it is important: Apple’s App Store business has been under fire from developers and regulators in recent years, and in 2024 the company had to revamp its operations to comply with new EU laws and allow its devices to host third-party marketplaces.
Earlier this month, Apple also reportedly stepped up its efforts Tencent Holdings Ltd. And ByteDance Ltd. modify their popular Chinese apps. The tech giant put pressure on these companies to close loopholes that allowed in-app developers to avoid Apple’s 30 percent commission.
Despite beating third-quarter earnings expectations, Apple’s stock price fell due to mediocre performance in China and the services sector, as well as Mac sales that fell slightly short of expectations.
For more information on Benzinga’s consumer technology coverage, visit follow this link.
Photo by BigTunaOnline on Shutterstock
Read more:
Disclaimer: This content was created in part using AI tools and reviewed and published by Benzinga editors.
Market news and data provided by Benzinga APIs
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
