Apple Inc. has named Indian origin Kevan Parekh as the next chief financial officer (CFO). Parekh will take over from Luca Maestri who will transition from his role on January 1, 2025.
Parekh has been at Apple for 11 years and currently leads Financial Planning and Analysis, G&A and Benefits Finance, Investor Relations, and Market Research. Before this role, Parekh led Worldwide Sales, Retail, and Marketing Finance. He began his tenure leading the financial support of Apple’s Product Marketing, Internet Sales and Services, and Engineering teams.
Before joining Apple, Parekh held various senior leadership roles at Thomson Reuters and General Motors, where he also had extensive global experience.
“Kevan Parekh’s sharp intellect, wise judgment, and financial brilliance make him the perfect choice to be Apple’s next CFO,” said Tim Cook, Apple’s CEO.
Luca Maestri will continue to lead the Corporate Services teams, including information systems and technology, information security, and real estate and development, reporting to Apple CEO Tim Cook.
“Luca has been an extraordinary partner in managing Apple long-term. 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 that we will continue to benefit from the leadership and insight that have been the hallmark of his tenure at the company,” said Tim Cook.
During his time as CFO, Maestri enabled essential investments and practiced robust financial discipline, which helped the company more than double its revenue, with services revenue growing more than five times.