Ahrendts, who joined Apple in 2014 after previously serving as the CEO of luxury fashion retailer Burberry, is being succeeded by Deidre O'Brien, the company's Vice President of People. In a new role of SVP of Retail + People, O'Brien will continue overseeing "people-related functions" such as talent development and recruiting, while also overseeing the company's 506 retail stores and 35 online stores.
Apple has steadily grown its retail footprint during Ahrendts' tenure, and now has 70,000 retail employees. The company has also taken steps -- most notably through its Today at Apple teaching sessions, which launched in 2017 -- to turn Apple Stores into community centers.
"I want to thank Angela for inspiring and energizing our teams over the past five years," said CEO Tim Cook in a prepared remark. "She has been a positive, transformative force, both for Apple's stores and the communities they serve. We all wish her the very best as she begins a new chapter."
Apple shares were little changed in after-hours trading.
This article was written by a staff member of TheStreet.