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Apple Inc. (NASDAQ:AAPL) said Tuesday afternoon Angela Ahrendts will resign from her role as head of retail after five years on the job.
What Happened
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Deirdre O'Brien, Apple's current senior vice president of Retail + People, will assume Ahrendts' responsibility when she retires in April, according to Cupertino.
The departing executive said she is leaving for a combination of new personal and professional pursuits.
O'Brien has more than three decades of experience at Apple and will be in charge of the company's global retail reach. She will emphasize the "connection between the customer and the people and processes that serve them," according to Apple. O'Brien will also continue overseeing all People-related functions, the company said.
Why It's Important
Apple operates the best physical retail experience in the entire technology space, but there is room for improvement, Loup Ventures' Gene Munster and Andrew Murphy said in a Wednesday blog post. For example, the Genius Bar comes with long wait times and the time it takes to buy a new product in a store is also too time-consuming, they said.
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O'Brien pulling double duty "makes sense," since Apple's retail segment is the largest group by headcount and accounts for more than half of all full-time employees, Munster and Murphy said.
What's Next
Apple's retail business took "big steps forward" under Ahrendts' leadership and investors should be excited to see what is next for the business under a new leader, in Loup Ventures' view.
Apple shares were up 0.17 percent at $174.48 at the time of publication Wednesday.
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Apple’s new senior vice president of Retail + People Deirdre O’Brien speaks to Apple employees Feb. 5. Courtesy photo.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.