Apple, the world’s most valuable tech company, has appointed Indian-origin Kevan Parekh as its new Chief Financial Officer (CFO). The appointment was announced in August 2024 and took effect on January 1, 2025.

Parekh, a seasoned finance leader with a decade of experience at Apple, officially assumed the role on January 1, 2025.

This strategic move marks a significant leadership transition, with the current CFO, Luca Maestri, stepping down after nearly a decade of driving Apple’s financial success.

Kevan Parekh’s Journey to the CFO Role

Kevan Parekh brings over 11 years of experience within Apple, where he has been a key figure in shaping the company’s financial strategies. Before his appointment, he led critical domains, including:

Financial Planning and Analysis: Ensuring robust forecasting and financial health.

G&A and Benefits Finance: Overseeing operational budgets and employee benefit programs.

Investor Relations: Building trust and maintaining strong relationships with Apple’s shareholders.

Market Research: Leveraging insights to align financial strategies with market trends.

Earlier in his Apple career, Parekh spearheaded Worldwide Sales, Retail, and Marketing Finance, demonstrating his ability to navigate complex financial landscapes.

His initial years included financial leadership for Product Marketing, Internet Sales and Services, and Engineering teams.

Before joining Apple

Parekh held senior leadership positions at Thomson Reuters and General Motors, where he gained extensive global experience.

He holds a Bachelor of Science in Electrical Engineering from the University of Michigan and an MBA from the University of Chicago, exemplifying his strong academic foundation in both technical and business disciplines.

Tim Cook’s Confidence in Parekh

Apple’s CEO, Tim Cook, expressed unwavering confidence in Parekh’s abilities.

Cook praised Parekh as a leader with “sharp intellect, wise judgment, and financial brilliance,” qualities that make him an ideal choice for the CFO role.

Cook also acknowledged Parekh’s deep understanding of Apple’s operations and his indispensable contributions over the past decade.

Luca Maestri’s Legacy at Apple

As Parekh steps into this pivotal role, Luca Maestri transitions from his position as CFO, leaving behind an extraordinary legacy. Under Maestri’s tenure, Apple achieved remarkable milestones:

Revenue Growth: Apple’s revenue more than doubled during his tenure, with services revenue increasing fivefold.

Strategic Investments: Maestri facilitated essential investments while maintaining stringent financial discipline.

Operational Excellence: He improved operational efficiencies across the company’s global operations.

Maestri will continue to lead Apple’s Corporate Services teams, including information systems and technology, information security, and real estate and development, while reporting directly to Tim Cook.

Looking Ahead

Kevan Parekh’s appointment symbolizes Apple’s commitment to nurturing internal talent and maintaining continuity in its leadership.

With his extensive experience and proven track record, Parekh is poised to guide Apple through its next phase of growth and innovation.

As Parekh assumes his new responsibilities, Apple’s focus on long-term financial performance and innovation remains unwavering, ensuring that the company continues to lead the global tech industry.

The Significance of Leadership Transitions at Apple

Leadership transitions at Apple are always closely watched, given the company’s stature in the global market. The move to appoint Parekh, an Indian-origin executive, highlights the growing influence of diverse talent in shaping the future of global corporations.

This seamless transition reflects Apple’s strategic vision and its emphasis on continuity, innovation, and financial excellence.