SUMMARY
- Apple Inc. has announced the appointment of Kevan Parekh, an Indian-origin engineer, as its new CFO.
- It follows the transition of Luca Maestri to the Corporate Services teams.
- Parekh is currently serving as Apple’s VP of Financial Planning and Analysis, and will assume the role of CFO effective January 1 2025.
Apple Inc. has announced the appointment of Kevan Parekh, an Indian-origin engineer, as its new Chief Financial Officer (CFO), following Luca Maestri’s transition to the Corporate Services teams. This appointment marks the second significant restructuring by the tech giant in recent weeks.
As part of a carefully planned succession, Kevan Parekh, who is currently serving as Apple’s Vice President of Financial Planning and Analysis, will assume the role of CFO effective January 1, 2025, and will become a member of the executive team.
Parekh’s tenure at Apple spans over 11 years, during which he has played a crucial role in the company’s financial strategy and operations.
Furthermore, he holds a Bachelor of Science in Electrical Engineering from the University of Michigan and further enhanced his business acumen by earning an MBA from the University of Chicago, a prestigious institution renowned for its business programs.
Parekh joined Apple in 2011 at the age of 52 and has quickly become an indispensable member of the finance leadership team. In his current position as Vice President of Financial Planning and Analysis, he is responsible for overseeing critical areas such as Financial Planning and Analysis, General and Administrative (G&A) and Benefits Finance, Investor Relations, and Market Research. It is believed that he reports directly to Tim Cook.
Prior to his role at Apple, Parekh built a distinguished career at Thomson Reuters and General Motors, where he held several senior leadership positions. A Bloomberg report suggests that Maestri had been grooming Parekh for the CFO position for the past few months.
At Thomson Reuters, he served for four years and was responsible for various roles, including Vice President of Finance. At General Motors, he contributed to the company’s success as the Director of Business Development in the New York office and later as Regional Treasurer in Zurich, Europe.
Tim Cook, Apple’s CEO, has praised Parekh for his profound understanding of the company and his exceptional financial expertise. He added, “For more than a decade, Kevan has been an indispensable member of Apple’s finance leadership team, and he understands the company inside and out. His sharp intellect, wise judgment, and financial brilliance make him the perfect choice to be Apple’s next CFO.”
Luca Maestri, who will continue to lead Apple in a new capacity, has expressed his confidence in Parekh’s abilities. He stated, “I’m looking forward to the next stage of my time at Apple, and I have enormous confidence in Kevan as he prepares to take the reins as CFO. He is truly exceptional, has a deep love for Apple and its mission, and he embodies the leadership, judgment, and values that are so important to this role.”
