Apple has named Kevan Parekh, an Indian-origin executive, as its new Chief Financial Officer (CFO) and he will be joining the company's executive team. Current CFO Luca Maestri will be transitioning from his role on January 1, 2025, as announced by Apple. Apple's CEO, Tim Cook, has stated, "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 judgement, and financial brilliance make him the perfect choice to be Apple’s next CFO.”
Who is Kevan Parekh?
Before joining Apple, Parekh held various senior leadership roles at Thomson Reuters and General Motors, gaining extensive global experience.
Parekh, an electrical engineer with a Bachelor of Science from the University of Michigan and an MBA from the University of Chicago, has been with Apple for 11 years and currently leads Financial Planning and Analysis, G and A and Benefits Finance, Investor Relations, and Market Research.
Bloomberg reports that Maestri has been preparing Parekh to succeed him as CFO, a role that hasn't been filled by an external candidate. While Parekh may not be widely recognized, he is a key figure within Apple, directly reporting to Cook on critical financial and sales issues. He recently assumed the responsibilities of Saori Casey, who departed Apple to become Sonos's CFO.
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.
During his time as CFO, Maestri enabled essential investments and practised robust financial discipline, which together helped the company more than double its revenue, with services revenue growing more than five times.
"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.
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Inputs from IANS
