Apple Pay Leader Jennifer Bailey to Retire After 25 Years

Jennifer Bailey, the executive who led Apple Pay and Wallet since their launch, is retiring in October after more than 25 years with the company. Her departure was announced in a staff memo from services chief Eddy Cue, who praised her leadership in changing how hundreds of millions of users pay. Bailey will remain in an advisory role to support the transition, and Apple plans to name a successor before her exit.

Bailey joined Apple in the early 2000s, initially running the company's online store. She moved to her current role in 2014, overseeing the creation and global expansion of Apple Pay. Under her direction, the service grew to be live in 89 markets and supported by more than 11,000 banks and networks. The Apple Wallet also evolved from a simple card storage tool into a digital hub for keys, identification, and other credentials. Analysts estimate the division she leaves behind generates more than $7.5 billion annually for Apple.

Her retirement is part of a broader wave of senior leadership changes at the technology giant. The most significant transition is set for September 1, when CEO Tim Cook will hand the chief executive role to John Ternus and become executive...