Apple CFO leaves the post, but stays with the company
Apple's Chief Financial Officer will be Kevan Parekh in future. His predecessor Luca Maestri will only head the Corporate Services team from January.
Apple logo in front of money and Manhattan backdrop.
(Image: Generiert mit Midjourney durch Mac & i)
Apple is about to restructure an important position in the executive suite: Chief Financial Officer (CFO) Luca Maestri, who will soon be 61 years old, will leave his post on January 1, 2025. He has held the position since spring 2014. However, Apple will not lose the manager, who formerly worked at General Motors, Xerox and Nokia Networks (the latter two as CFO), completely: he will be given a new position within the company.
(Image:Â Apple)
As Apple announced on Tuesday night, Maestri will head the Corporate Services division, which includes information systems and IT, information security and real estate (including its development), from January. This department was previously part of Maestri's portfolio alongside his CFO duties.
Cook: "Perfect choice"
Apple's new CFO will be Kevan Parekh, who has been with Apple for 11 years, currently in the position of Vice President (VP). He is currently in charge of Financial Planning and Analysis, G&A and Benefits Finance, Investor Relations and Market Research. Previously, he was responsible for finance in the global sales, retail and marketing department. When he joined Apple in 2013, he supported the product marketing and finance engineering teams, among others.
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Parekh is taking over from Maestri as part of a "planned succession". CEO Tim Cook thanked Maestri for his "extraordinary partnership". He had been of central importance in moving Apple's finances forward. The company considers itself fortunate that it can continue to benefit from his leadership. Parekh, in turn, has been an "indispensable part of Apple's finance leadership team" for over a decade. He understands the company from all sides, is "financially brilliant" and therefore the "perfect choice as Apple's next CFO".
General Motors and Thomson Reuters
(Image:Â LinkedIn)
Parekh has Indian roots and studied at the University of Michigan (electrical engineering) and the University of Chicago (MBA). At 52, he is not quite ten years younger than Maestri and was introduced to his new position by Maestri himself recently.
Before his work at Apple, Parekh held various management positions at Thomson Reuters and – like Maestri – General Motors. Cook went on to say that he has "tremendous confidence" in Parekh as he prepares for the new role. "He has a deep love for Apple and its mission."
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