Apple CEO Tim Cook said he hired an “innovative and highly talented” VP of corporate strategy in the wake of the recent resignation of former vice presidents Phil Schiller and Andrew Mason.
“This is the most significant move that we have made in years to accelerate the direction of our business,” Cook said in a statement.
Cook said Mason and Schiller would continue to lead Apple’s strategic and business development efforts in addition to other roles that are not listed in their existing roles.
Cook added that he plans to bring on “an innovative and highly qualified” VP to join the Apple board of directors in the coming weeks.
The news comes as Apple has been struggling with rising competition from other companies in the tech industry and a slowing smartphone market.
The Cupertino, California, company has seen growth in its online retail business and in the smartphone market, but struggled to keep pace with the rise of new competitors such as Amazon and Google.