Indian-Origin Kevan Parekh Appointed as Apple's New CFO, Succeeding Luca Maestri in January 2025

Apple has officially announced a major shift in its leadership team, appointing Kevan Parekh as the new Chief Financial Officer (CFO), effective January 1, 2025. Parekh, who currently holds the position of Vice President of Financial Planning and Analysis, will take over from Luca Maestri, who has been a stalwart in the CFO role since 2014. This transition is part of a planned succession strategy, ensuring a seamless transfer of responsibilities. Luca Maestri will continue to serve Apple by taking on the role of overseeing Corporate Services, including crucial areas such as information systems and technology, information security, and real estate and development. He will maintain a direct reporting line to CEO Tim Cook, underscoring the importance of his new responsibilities.

Kevan Parekh's Journey at Apple: From VP of Financial Planning to CFO

Kevan Parekh’s appointment as CFO marks the pinnacle of an impressive 11-year career at Apple. During his time with the company, Parekh has established himself as a key figure within Apple's finance leadership. His broad scope of responsibilities has included leading Financial Planning and Analysis, G&A and Benefits Finance, Investor Relations, and Market Research. These roles have provided Parekh with an in-depth understanding of Apple’s financial operations and strategic goals.

Parekh's promotion to CFO is a testament to his extensive experience and the significant contributions he has made to Apple. His leadership in Financial Planning and Analysis has been instrumental in shaping the company's financial strategies, ensuring that Apple continues to thrive in a competitive market.

A Proven Leader: Parekh’s Experience in Sales, Retail, and Marketing Finance

Before assuming his current role, Parekh was the head of finance for Apple’s Worldwide Sales, Retail, and Marketing divisions. In this capacity, he demonstrated a comprehensive understanding of Apple's diverse business operations, which are essential to the company's success. This experience provided him with a unique perspective on the financial needs and challenges across different facets of the business, further solidifying his qualifications for the CFO position.

His leadership in these areas has been characterized by a deep knowledge of Apple's operations and a commitment to driving financial excellence across all departments. This track record of success has made Parekh a natural choice to succeed Luca Maestri as CFO.

Prior Experience: Building Financial Expertise at Thomson Reuters and General Motors

Before joining Apple, Kevan Parekh held several senior leadership roles at Thomson Reuters and General Motors, where he honed his financial and strategic acumen. At Thomson Reuters, he served as Vice President of Finance and later as Corporate Treasurer. These roles provided him with valuable experience in managing complex financial operations and developing strategic financial plans.

At General Motors, Parekh held positions such as Director of Business Development in New York and Regional Treasurer in Zurich. These roles allowed him to gain international experience in business development and financial management, further enhancing his qualifications for leadership at Apple. His tenure at these prestigious companies equipped him with a robust skill set that he has effectively applied at Apple.

Educational Background: A Strong Foundation for Success

Kevan Parekh’s educational background has played a critical role in his rise to leadership within Apple. He earned a Bachelor of Science in Electrical Engineering from the University of Michigan, providing him with a solid technical foundation. He later pursued an MBA from the University of Chicago, one of the world’s most prestigious business schools, where he developed his business acumen.

This combination of technical and business education has given Parekh a unique perspective that aligns with Apple’s innovative and forward-thinking approach. His ability to bridge the gap between technical understanding and financial strategy has been a significant asset to Apple.

Tim Cook’s Confidence in Parekh’s Leadership

Apple’s CEO, Tim Cook, has expressed strong confidence in Kevan Parekh’s ability to lead the company’s financial strategy into the future. Cook has praised Parekh for his deep understanding of Apple’s operations, sharp intellect, wise judgment, and financial expertise. This endorsement from Cook highlights the trust the company places in Parekh to maintain the financial stewardship that has been a hallmark of Apple’s success.

Cook's vote of confidence in Parekh is a clear indication that Apple’s leadership is committed to fostering talent from within the company. Parekh’s appointment as CFO is seen as a continuation of this tradition, ensuring that Apple remains on a path of growth and innovation.

A Seamless Transition: Luca Maestri’s Continued Role at Apple

As Luca Maestri transitions to his new role within Apple, he has also voiced his confidence in Kevan Parekh’s abilities. This planned succession underscores Apple’s commitment to stability and continuity at the executive level. Maestri’s continued involvement with Apple in overseeing Corporate Services ensures that his vast experience and knowledge remain an integral part of the company’s leadership team.

Parekh’s elevation to the CFO role is a significant step in Apple’s ongoing evolution. It highlights the company’s dedication to nurturing leadership from within and positioning itself for continued success in the years to come.

Conclusion: A New Chapter in Apple's Financial Leadership

Kevan Parekh’s appointment as CFO is not just a leadership change; it represents Apple’s broader strategy of building and promoting talent from within. As Apple looks to the future, Parekh’s leadership will be instrumental in driving the company’s financial strategies, ensuring that Apple continues to lead in innovation and financial performance. With Tim Cook’s support and Luca Maestri’s guidance, Parekh is well-positioned to steer Apple’s financial future toward continued success and growth.