Apple executive Jennifer Bailey, who has led Pay and Wallet services since 2014, will retire in October after more than 25 years, deepening a leadership turnover. Key Points: Bailey has run A
Apple executive Jennifer Bailey, who has led Pay and Wallet services since 2014, will retire in October after more than 25 years, deepening a leadership turnover.
- Bailey has run Apple Pay since the service launched in 2014 and joined the company more than 25 years ago.
- Services chief Eddy Cue said a successor will be named before her transition at the end of October.
- Her exit lands weeks before Tim Cook hands the chief executive job to John Ternus.
Services chief Eddy Cuetold staff in a memo that Bailey decided to retire, and he said the company will name a successor before her transition at the end of October. She will remain available in an advisory role through the handover, he wrote. Cue credited Bailey with changing the way hundreds of millions of users pay, and a spokesperson for the Cupertino, California, company declined to comment.
Bailey joined Apple in the early 2000s, took charge of the online store team in 2003, and became vice president of Apple Pay in 2014, when the payment service launched. She also ran fraud prevention, partner operations, gift cards and trust and safety, and she presented Pay features at keynotes for years.
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People familiar with the decision described her exit as a major loss inside Apple, and said it points to a wider retreat by senior leaders now in their 60s. Analysts put annual Apple Pay revenue above $7.5 billion, which ranks the product among the most profitable pieces of the services business. Apple shares slipped about 1.1% on Tuesday and held flat in after-hours trading.
The unit also anchors the Apple Card and the company's new device upgrade subscription, and by Apple's own count Pay works in more than 80 countries. The company says the service reaches more than 85% of retailers in the United States. Cue said Apple still wants to replace the physical wallet, and the Wallet app has moved past credit cards to carry house keys, car keys, hotel keys and identification.
The larger shift arrives on Sept. 1, when Tim Cookhands the chief executive job to hardware boss John Ternus, who is expected to make further personnel changes of his own.
Josh Rosenstock, a senior director in corporate communications who handled financial and policy public relations, is leaving in an unrelated move.
Bailey is not the first veteran to step back, and general counsel Kate Adams is retiring this year, while environment chief Lisa Jackson left at the start of 2026. Former finance chief Luca Maestri and marketing veteran Phil Schiller have both stayed on in reduced roles. Cue, retail chief Deirdre O'Brien and marketing boss Greg Joswiak have each spent roughly four decades at Apple.
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