Longtime Apple Pay Chief Jennifer Bailey to Retire in October

Jennifer Bailey, Apple's longtime vice president of Apple Pay, is retiring in October after more than 25 years at the company, adding to a series of executive changes at Apple.



Bloomberg reported on Tuesday that services chief Eddy Cue announced Bailey's retirement in a memo to employees. "After more than 25 years at Apple, Jennifer Bailey has decided to retire in October," Cue wrote. "During her tenure, Jennifer has made extraordinary contributions from leading the Apple Store Online through a period of significant growth and global expansion to overseeing the launch of Apple Pay."


She joined Apple in the early 2000s and led the company's online store before becoming vice president of Apple Pay when the service launched in 2014. Under her leadership, Apple Pay expanded to more than 80 countries, and Apple says the service is accepted at more than 85 percent of U.S. retailers.

Her payment division became central to Apple's push into financial services, with analysts surveyed by Bloomberg estimating that Apple Pay now generates more than $7.5 billion in annual revenue. Bailey also led the development and growth of Apple Wallet, oversaw the development and launch of Apple Card, and managed services fraud prevention, partner operations, Gift Cards, and trust and safety initiatives.

Cue wrote, "Under Jennifer's leadership, Apple Pay has changed the way hundreds of millions of our users pay, with a simpler, more secure, and private experience." Before Bailey's transition at the end of October, Apple plans to announce its succession plan, and she will remain available in an advisory role to support the handover.

Bailey's retirement comes as Apple continues to reshape its leadership team. Tim Cook is stepping down as CEO on September 1, with hardware chief John Ternus set to take over, while general counsel Kate Adams is also leaving this year. Bloomberg separately reported that senior director of corporate communications Josh Rosenstock is departing the company in an unrelated move.