Planned Leadership Transition
Apple has announced a major leadership change, appointing Kevan Parekh as the new Chief Financial Officer (CFO), effective January 1, 2025. Parekh, currently serving as Apple’s Vice President of Financial Planning and Analysis, will take over from Luca Maestri, who has been in the CFO role since 2014.
As part of this planned transition, Maestri will assume responsibility for overseeing Corporate Services, which includes information systems and technology, information security, and real estate and development. He will continue to report directly to CEO Tim Cook.
Kevan Parekh’s Rise at Apple
Parekh’s promotion to CFO is the result of an 11-year career at Apple, where he has become a key player in the finance leadership team. His current responsibilities include leading Financial Planning and Analysis, G&A and Benefits Finance, Investor Relations, and Market Research.
Before his current position, Parekh was in charge of finance for Apple’s Worldwide Sales, Retail, and Marketing divisions, demonstrating his comprehensive understanding of the company’s diverse business operations.
Prior to joining Apple, Parekh held senior leadership roles at Thomson Reuters and General Motors. At Thomson Reuters, he served as Vice President of Finance and eventually became the Corporate Treasurer, where he developed his strategic financial skills. At General Motors, his roles included Director of Business Development in New York and Regional Treasurer in Zurich, giving him significant experience in business development and international financial management.
Parekh’s educational background also played a pivotal role in his advancement at Apple. He holds a Bachelor of Science in Electrical Engineering from the University of Michigan and an MBA from the University of Chicago, one of the world’s leading business schools. This blend of technical and business education has given Parekh a unique perspective that aligns with Apple’s innovative approach.
CEO Tim Cook’s Endorsement
Apple’s CEO, Tim Cook, has expressed strong confidence in Parekh’s ability to guide the company’s financial strategy in the future. Cook described Parekh as someone with a deep understanding of Apple’s operations, possessing sharp intellect, wise judgment, and the financial expertise necessary for the CFO role.
Cook’s endorsement reflects the company’s trust in Parekh to uphold the financial leadership that has been instrumental to Apple’s success.
Luca Maestri, as he transitions to his new role within the company, also expressed his confidence in Parekh’s capabilities. This smooth leadership transition underscores Apple’s commitment to continuity and stability at the executive level, ensuring that the company’s financial leadership remains strong.
Parekh’s appointment as CFO represents a significant step in Apple’s ongoing evolution, showcasing the company’s dedication to cultivating leadership from within and positioning itself for continued growth and innovation in the future.
