The tech giant Apple announced the appointment of Kevan Parekh, vice president of financial planning and analysis, as chief financial officer (CFO), on Monday, August 27.
Parekh will take over for Luca Maestri, an industry veteran who will continue to oversee the corporate service groups, which include real estate and development, information security, and information systems and technology.
Maestri will answer directly to Tim Cook, the CEO of Apple. Apple Inc. doubled its revenue and more than five times increased its service revenue under Maestri's leadership.
Kevan Parekh's official joining as CFO
On January 1, 2025, Parekh will take over as the company's CFO as part of a planned succession plan. He has been employed by Apple for more than ten years and has contributed to the company's operations and financial plan.
Cook and Maestri expressed a great deal of faith in Parekh's ability to begin his new role at the company.
Kevan has been an essential part of Apple's finance leadership team for over ten years, and he has a deep understanding of the business. He is the ideal candidate to be Apple's next CFO because of his keen intellect, sound judgement, and financial acumen, according to Cook.
About the new CFO, Kevan Parekh
After 11 years of employment with Apple, Parekh will continue as CFO on January 1, 2025.
At the moment, he oversees investor relations, market research, G&A and benefits finance, and financial planning and analysis. He began his career as the head of Apple's engineering, product marketing, and internet sales and services departments' funding.
Prior to joining Apple, he held senior leadership positions at General Motors and Thomson Reuters. He holds an MBA from the University of Chicago and a Bachelor of Science from the University of Michigan.
