Apple Pay executive Jennifer Bailey is retiring and leaving Apple in October, reports *Bloomberg*. Bailey has been with Apple since 2003 and has long overseen Apple Pay and Apple Wallet. In an employee memo, Apple's services chief Eddy Cue said Bailey will be available in an advisory role.

"After more than 25 years at Apple, Jennifer Bailey has decided to retire in October," Cue wrote. He highlighted her contributions to Apple Store Online, Apple Pay, Apple Wallet, Apple Card, and other areas. Under Bailey's leadership, Apple Pay expanded to more than 80 countries and is accepted at more than 85 percent of U.S. retailers.

*Bloomberg* says Bailey's retirement is "seen as a major loss." She is among several recent Apple executive departures, including general counsel Kate Adams, environmental chief Lisa Jackson, AI chief John Giannandrea, COO Jeff Williams, and UI designer Alan Dye. CFO Luca Maestri and marketing chief Phil Schiller now have smaller roles, and CEO Tim Cook is set to transition on September 1.