Cupertino, California: Apple has appointed Indian-origin Kevan Parekh as its new chief financial officer (CFO), who will also join the tech giant’s executive team.
Current CFO Luca Maestri will step down on January 1, 2025, Apple said in a statement.
“For more than a decade, Kevan has been an indispensable member of Apple’s financial leadership team and understands the company inside and out,” Cook said.
“His keen intellect, wise judgment and financial brilliance make him the perfect choice to be Apple’s next CFO,” Apple’s CEO added.
Brief profile of Kevan Parekh,
Prior to joining Apple, Parekh held several senior leadership roles at Thomson Reuters and General Motors, where he also had extensive global experience.
Parekh, an electrical engineer with a Bachelor of Science degree from the University of Michigan and an MBA from the University of Chicago, has worked at Apple for 11 years and currently leads Financial Planning and Analysis, G&A and Earnings Finance, Investor Relations and Market Research.
“Prior to this role, Parekh led Apple’s global sales, retail and marketing finance. He began his tenure leading financial support for Apple’s Product Marketing, Internet Sales and Services and Engineering teams,” the company said.
Maestri will continue to lead Apple’s Corporate Services teams, including information systems and technology, information security, and real estate and development, reporting to Apple CEO Tim Cook.
“Maestri has been an extraordinary partner in Apple’s long-term management. He has been instrumental in improving and driving the company’s financial performance, engaging with shareholders, and instilling financial discipline across all areas of Apple,” Cook said.
During his tenure as CFO, Maestri enabled critical investments and practiced strong financial discipline, which together helped the company more than double its revenue, with service revenue growing more than fivefold.
“It is the greatest privilege of my professional life to serve the most innovative and admired company in the world and to work side by side with such an inspiring leader as Tim Cook,” said Maestri.
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