Kevan Parekh to Become Apple’s New CFO in 2025
Cupertino, US – Apple has announced that Kevan Parekh, currently the Vice President of Financial Planning and Analysis, will take over as Chief Financial Officer (CFO) starting January 1, 2025. He will also join Apple’s executive team.
Apple’s current CFO, Luca Maestri, will transition from his role but will continue to lead the Corporate Services teams, including information systems and technology, information security, and real estate and development. He will report to Apple CEO Tim Cook.
Tim Cook praised Maestri, saying, “Luca has been an extraordinary partner in managing Apple for the 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.”
Kevan Parekh, who has been with Apple for over a decade, is of Indian origin and has been a key member of Apple’s finance leadership team. Cook added, “His sharp intellect, wise judgment, and financial brilliance make him the perfect choice to be Apple’s next CFO.”
During his tenure, Maestri enabled essential investments and practiced robust financial discipline, helping the company more than double its revenue, with services revenue growing more than five times.
Maestri expressed his confidence in Parekh, stating, “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. I’m looking forward to the next stage of my time at Apple, and I have enormous confidence in Kevan as he prepares to take the reins as CFO. He is truly exceptional, has a deep love for Apple and its mission, and he embodies the leadership, judgment, and values that are so important to this role.”
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, he 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. He is an electrical engineer with a Bachelor’s of Science from the University of Michigan and an MBA from the University of Chicago.
Doubts Revealed
Kevan Parekh -: Kevan Parekh is a person who will become the new Chief Financial Officer (CFO) of Apple in 2025. He is originally from India and has worked at Apple for more than ten years.
Apple -: Apple is a very big company that makes popular products like the iPhone, iPad, and Mac computers. It is known for its innovative technology and design.
CFO -: CFO stands for Chief Financial Officer. This person is responsible for managing the money and financial planning of a company.
Luca Maestri -: Luca Maestri is the current Chief Financial Officer of Apple. He will step down from this role but will still work with the company in a different capacity.
Tim Cook -: Tim Cook is the CEO (Chief Executive Officer) of Apple. He is the person who leads the company and makes important decisions.
Corporate Services teams -: Corporate Services teams are groups of people in a company who handle various support functions like human resources, legal matters, and facilities management.
MBA -: MBA stands for Master of Business Administration. It is a higher education degree that teaches people about business management and leadership.