Apple Names Kevan Parekh as New CFO, Succeeding Luca Maestri

Apple announced that Kevan Parekh will become its Chief Financial Officer starting January 1, 2025. He will replace Luca Maestri, who will continue to lead Corporate Services teams. CEO Tim Cook praised both executives for their leadership and financial discipline, which have been crucial to Apple's growth.

Apple has officially named Kevan Parekh, its Vice President of Financial Planning and Analysis, as the new Chief Financial Officer, effective January 1, 2025. Parekh will join the executive team, succeeding Luca Maestri.

Maestri, the current CFO, will transition from his role and continue to lead Corporate Services teams, including information systems and technology, information security, and real estate and development. He will report directly to Apple CEO Tim Cook, as stated in a release from the US-based consumer electronics giant.

'Luca has been an extraordinary partner in managing Apple for the long term,' said Cook. 'He has been instrumental in improving and driving the company's financial performance, engaging with shareholders, and instilling financial discipline across every part of Apple. We're fortunate to continue benefiting from his leadership and insight.'

Kevan Parekh, who has Indian origins, has been part of Apple's finance leadership team for over a decade. Cook praised Parekh's sharp intellect, wise judgment, and financial acumen, deeming him the ideal choice for CFO. During his time, Maestri played a pivotal role in essential investments and rigorous financial management that helped Apple more than double its revenue.

'It is the greatest privilege of my professional life to serve the world's most innovative and admired company, and to work side by side with a leader as inspirational as Tim Cook,' said Maestri. He expressed confidence in Parekh, describing him as exceptional and deeply committed to Apple's mission.

Parekh, who joined Apple 11 years ago, currently oversees Financial Planning and Analysis, G&A and Benefits Finance, Investor Relations, and Market Research. He previously led Worldwide Sales, Retail, and Marketing Finance and began his tenure supporting Apple's Product Marketing, Internet Sales and Services, and Engineering teams. Prior to Apple, Parekh held senior roles at Thomson Reuters and General Motors.

Parekh holds a Bachelor's of Science in Electrical Engineering from the University of Michigan and an MBA from the University of Chicago.

(With inputs from agencies.)