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Apple's VP services Stern to depart - Insider

Reuters
Updated ·1-min read
The Apple Inc logo is seen at the entrance to the Apple store, in Brussels

(Reuters) - Apple Inc's vice president of services, Peter Stern, has informed colleagues that he is leaving the company, the Insider reported on Monday, citing a source close to the executive.

Stern, who joined the iPhone maker from Time Warner Cable in 2016, will leave at the end of the month, according to the report. Apple did not immediately respond to a Reuters request for comment.

A prominent media executive, Stern oversaw an expansion of Apple's paid subscription businesses, particularly its television offering, Apple TV+.

The services business features News+, Fitness+ and iCloud+, among other subscription services, a key focus for Apple as it looks to diversify revenue away from gadget sales.

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The unit generated $19.19 billion in the fourth quarter ended September, up 5% from the previous year.

The Insider report said Apple is reorganizing its services unit and Stern's responsibilities will be split into three separate divisions.

(Reporting by Yuvraj Malik in Bengaluru; Editing by Devika Syamnath)