Apple Inc. has announced the appointment of Kevan Parekh, an Indian-origin engineer, as its new Chief Financial Officer (CFO). This change follows Luca Maestri’s transition to corporate service teams and marks the tech giant’s second major reshuffle in the past week.

As part of a planned succession, Parekh, who currently serves as the Vice President of Financial Planning and Analysis, will assume the role of CFO on January 1, 2025, and join Apple’s executive team. Parekh, who has been with the company for 11 years, has played a crucial role in shaping Apple’s financial strategy and operations.

Who is Kevan Parekh?

Kevan Parekh’s rise within Apple’s finance team is rooted in a strong technical and business background. He earned a Bachelor of Science degree in Electrical Engineering from the University of Michigan and later an MBA from the University of Chicago, one of the world’s top business schools.

Now 52, Parekh has become an integral part of Apple’s finance leadership during his 11-year tenure. In his current role as Vice President of Financial Planning and Analysis, he oversees vital areas such as financial planning, general and administrative finance, benefits finance, investor relations, and market research. Parekh reports directly to Apple CEO Tim Cook.

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Throughout his time at Apple, Parekh has led finance operations for worldwide sales, retail, and marketing, showcasing a deep understanding of the company’s business. Reports indicate that Parekh has been groomed for the CFO role over the past several months to ensure he is well-prepared to take on this critical position.

Prior Experience

Before joining Apple, Kevan Parekh had a successful career at Thomson Reuters and General Motors, where he made significant contributions. At Reuters, he served as Vice President of Finance for four years. At General Motors, Parekh held the position of Director of Business Development in New York and was the Regional Treasurer in Zurich, Europe.

Apple CEO Tim Cook has expressed his confidence in Parekh, citing his deep understanding of the company and his financial acumen as key reasons for his appointment as CFO.

What Did Apple’s CEO Say?

Tim Cook praised Parekh’s decade-long contribution to Apple’s finance leadership, emphasizing his sharp intellect, sound decision-making abilities, and financial expertise, which make him an ideal choice for the CFO role.

Maestri’s Support

Luca Maestri, who will remain with Apple in a new capacity, has also expressed his confidence in Parekh’s abilities. Maestri stated that he looks forward to the next phase of his career and trusts Parekh to take over the CFO role, noting Parekh’s deep commitment to the company, his exceptional leadership qualities, and his strong decision-making skills.

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