Apple Inc. AAPL is set to bid farewell to its App Store head, Matt Fischer, who has been at the helm of the App Store business since 2010.
What Happened: On Wednesday, in an email to his team, Fischer said, “After 21 years at Apple, I’ve made the decision to step away from our incredible company.”
In the same email, he also expressed that the re-organization was the opportune time to hand over the reins to two exceptional leaders on his team.
Fischer will part ways with the company in October, reported Bloomberg, citing people with knowledge of the matter.
See Also: How To Take The Perfect Moon Shot Using An iPhone 15
The App Store division will be split into two teams, one managing Apple’s store and another overseeing alternative app distribution.
The restructuring is a response to regulatory pressure compelling Apple to permit alternative stores and payment methods for apps on its devices. Phil Schiller, the executive in charge of the App Store, is leading these changes, the report noted.
Senior director Carson Oliver will head the App Store group, while Ann Thai, a director responsible for App Store features, will lead the new team for alternative distribution. Both will report to Schiller.
Apple did not immediately respond to Benzinga’s request for comments.
Subscribe to the Benzinga Tech Trends newsletter to get all the latest tech developments delivered to your inbox.
Why It Matters: Apple’s App Store business has been under fire from developers and regulators over the past few years. In 2024, the company had to overhaul its operations to comply with new EU laws, allowing its devices to host third-party marketplaces.
Earlier this month, Apple also reportedly intensified its efforts to make Tencent Holdings Ltd. and ByteDance Ltd. modify their popular Chinese apps. The tech giant pressured these companies to close loopholes that enabled in-app creators to evade Apple's 30% commission.
Despite exceeding third-quarter earnings expectations, Apple’s stock fell due to modest performance in China and Services, as well as Mac revenue slightly trailing expectations.
Check out more of Benzinga’s Consumer Tech coverage by following this link.
Photo by BigTunaOnline on Shutterstock
Read Next:
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
