Apple’s restructuring services division due to executive departure

Apple is restructuring its Services division to account for the departure of Chief Services Officer Peter Stern, according to reports Business interested. Stern, who serves as Apple’s Vice President of Services Oversight + Apple TVsports, Apple news+, iCloudApple Fitness + Books Apple ArcadeAnd Apple Oneis said to be leaving the company.

Stern has worked at Apple for over six years, reporting to the Chief Services Officer Eddie QPrior to that, he was Executive Vice President and Chief Strategy Officer for Time Warner Cable.

Along with Cue, Stern has recently been involved with tracking sports content for ‌Apple TV+ as well as handling other major Apple services. With Stern gone, Apple will restructure its Services business, dividing the Services unit and Stern’s responsibilities into three divisions.

Stern has told colleagues he is leaving in order to spend more time on the East Coast, and is scheduled to leave at the end of the month. to me Business interestedwas seen as someone who could be a possible successor to “Eddy Cue‌ in the future, as he takes over the Apple services division.

The Apple Services category is of increasing importance to the company as it complements hardware sales. In fiscal 2022, Apple’s services division earned $78 billion, up $10 billion from 2021. Apple recently price increase For Apple TV + ‌ and Apple Musicthe former due to the growing catalog of content and the latter due to increased licensing costs.