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- Published: August 27, 2024 12:27
New Delhi: In a recent announcement, smartphone giant Apple has announced that Kevan Parekh will take on the role of CFO from Luca Maestri. Indian-origin Parekh will ascend to the new role of CFO from January 1, 2025.
Maestri who has been a long-time veteran of the company will continue to lead the corporate services teams which include information systems and technology, information security and real estate and development.
Luca has served as Apple’s CFO since 2013. Under his financial guidance, Apple achieved significant market growth. Speaking about Maestri’s contribution to the overall growth of the company, CEO Tim Cook remarked that-
Luca has been an extraordinary partner in managing Apple for the long term. He has been instrumental in improving and driving the company’s fiancial performance, engaging with shareholders, and instilling financial discipline across every part of Apple.
Towards the later part of Maestri’s financial regimes, things started to rupture as Apple experienced a slight financial decline and stagnation in the worldwide market. Nevertheless, with new financial leadership and direction, the company is surely looking to scale up once more.
Before joining Apple, Kevan Parekh held various senior leadership roles at Thomson Reuters and General Motors. Parekh is an electrical engineer with a Bachelor's of Science from the University of Michigan and an MBA from the University of Chicago. https://t.co/xvJy2Z8sJU
— Chandra R. Srikanth (@chandrarsrikant) August 27, 2024
Who is the new CFO Kevan Parekh?
Apple’s new CFO who is going to take over the financial reins is Kevan Parekh. Like Maestri, Parekh has also been a long-time associate of the company and has been working with Apple for more than a decade. Parekh currently leads the Financial Planning and Analysis, G&A and Benefits Finance, Investor Relations, and Market Research.
Parekh is a suitable candidate to lead the financial aspect of Apple after holding senior leadership roles in Thomson Reuters and General Motors under various capacities.
🚨 Apple announces Indian-origin engineer Kevan Parekh as its new Chief Financial Officer, to assume office on January 1, 2025. pic.twitter.com/BA5USW2WfG
— Indian Tech & Infra (@IndianTechGuide) August 27, 2024
Taking on the role of CFO means that Parekh will join the company’s executive committee. Parekh is currently the vice president of financial planning and analysis. Apple’s finances have been dwindling in recent years. Along with that, there are news collaborations and acquisitions of new companies in an attempt to revamp the upcoming line of iPhone 16. Naturally, a change in the financial direction will be conducive to better financial growth.
