Apple Inc. (AAPL) is bidding farewell to its App Store head, Matt Fischer, who has been at the helm of the App Store business since 2010. Fischer announced his departure in an email to his team on Wednesday, stating he has made the decision to “step away from our incredible company” after 21 years. He also mentioned that the company’s reorganization provided a suitable time to hand over leadership to two exceptional individuals within his team.
Fischer’s departure is set for October, according to Bloomberg sources. The App Store division is being restructured into two teams: one focused on managing Apple’s own store and another dedicated to overseeing alternative app distribution. This restructuring is a direct response to mounting regulatory pressure compelling Apple to allow third-party app stores and payment methods on its devices.
Phil Schiller, the executive in charge of the App Store, is spearheading these changes. Senior director Carson Oliver will lead the App Store group, while Ann Thai, a director responsible for App Store features, will head the new team for alternative distribution. Both will report directly to Schiller.
Apple’s App Store has faced scrutiny from both developers and regulators in recent years over its business practices. In 2024, the company had to make significant changes to its operations to comply with new European Union laws allowing third-party marketplaces on Apple devices. More recently, Apple reportedly intensified its efforts to make Tencent Holdings Ltd. and ByteDance Ltd. modify their popular Chinese apps to close loopholes that allowed in-app creators to circumvent Apple’s 30% commission.
Despite exceeding third-quarter earnings expectations, Apple’s stock price fell due to modest performance in China and its Services segment, as well as Mac revenue slightly trailing expectations.
