Apple has named Indian-origin Kevan Parekh as its new Chief Financial Officer (CFO). Parekh will also join the tech giant’s executive team. Current CFO Luca Maestri will transition out of his role on January 1, 2025, according to Apple’s statement.
Apple CEO Tim Cook praised Parekh’s extensive experience and contributions. “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,” said Cook. He added, “His sharp intellect, wise judgment, and financial brilliance make him the perfect choice to be Apple’s next CFO.”
Before joining Apple, Parekh held senior leadership roles at Thomson Reuters and General Motors. He brings significant global experience to his new position. Parekh holds a Bachelor of Science in Electrical Engineering from the University of Michigan and an MBA from the University of Chicago. He has been with Apple for 11 years and currently oversees Financial Planning and Analysis, G&A and Benefits Finance, Investor Relations, and Market Research.
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Earlier in his career at Apple, Parekh led Worldwide Sales, Retail, and Marketing Finance. He began his tenure by supporting Apple’s Product Marketing, Internet Sales and Services, and Engineering teams.
Luca Maestri will continue to lead Corporate Services teams, including information systems and technology, information security, and real estate and development. He will report directly to Tim Cook. Cook commended Maestri’s contributions, stating, “Maestri 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.”
Maestri reflected on his tenure, saying, “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.” Under his leadership, Apple has more than doubled its revenue, with services revenue growing more than five times.
