In a significant leadership shift, Apple Inc. has announced the promotion of Kevan Parekh, an Indian-origin executive, to the position of Chief Financial Officer (CFO). The transition will officially take place on January 1, 2025, marking the end of Luca Maestri’s impactful tenure in the role. Parekh, currently serving as Vice President of Financial Planning and Analysis at Apple, will succeed Maestri, who has led Apple’s financial strategy since 2014.
Kevan Parekh has been a pivotal member of Apple’s finance team for over a decade. In his current role, he manages key functions including General and Administrative (G&A) and Benefits Finance, Investor Relations, and Market Research. His extensive experience also encompasses leadership roles in Worldwide Sales, Retail, and Marketing Finance, as well as early support roles for Product Marketing, Internet Sales and Services, and Engineering teams.
Prior to joining Apple, Parekh honed his financial acumen in senior positions at Thomson Reuters and General Motors, gaining invaluable global experience. He holds a Bachelor of Science in Electrical Engineering from the University of Michigan and an MBA from the University of Chicago Booth School of Business, credentials that underscore his blend of technical and business expertise.
Apple’s CEO, Tim Cook, praised Parekh’s appointment, highlighting his deep understanding of the company and exceptional financial insight. Cook stated, “For more than a decade, Kevan has been an indispensable member of Apple’s finance leadership team. His sharp intellect, wise judgment, and financial brilliance make him the perfect choice to be Apple’s next CFO.”
Luca Maestri, who will transition to overseeing Apple’s Corporate Services teams, including information systems and technology, information security, and real estate and development, expressed his gratitude for his time at Apple. Maestri described his experience as “the greatest privilege of my professional life” and endorsed Parekh’s appointment, describing him as “truly exceptional” with the necessary leadership and judgment for the CFO role.
This leadership change comes at a crucial time for Apple, with significant product launches anticipated this fall and ongoing advancements in iPhone software upgrades. As Parekh steps into his new role, he will be expected to continue the company’s prudent capital management and potentially explore complementary acquisitions, according to industry analysts.
With Parekh’s extensive experience and understanding of Apple’s financial landscape, the company is poised for a smooth transition and continued strategic growth in the coming years.
