Report: Apple’s VP of Services Stern will leave

(Reuters) – Peter Stern, Apple Inc’s vice-president of services, informed his colleagues that he was leaving the company. The Insider reported Monday that Stern was quoting a source close the executive.

According to the report Stern, who joined the iPhone maker in 2016 from Time Warner Cable will be retiring at the end of the month. Apple did not immediately reply to Reuters’s request for comment.

Stern was a prominent media executive who oversaw the expansion of Apple’s paid-subscription businesses, especially its TV offering, Apple TV+.

Apple’s services business includes News+, Fitness+, and iCloud+. This is a key focus as it seeks to diversify its revenue away from gadget sales.

The unit generated $19.19Billion in the fourth quarter ending September, an increase of 5% over the previous year.

According to Insider, Apple will be reorganizing its Services unit. Stern’s responsibilities would be divided into three distinct divisions.

(Reporting by Yuvraj Mlik in Bengaluru; Editing By Devika Syamnath