Apple CFO revamp: Kevan Parekh replacing Luca Maestri

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Kevan Parekh is Apple’s current VP for Financial Planning and Analysis. Luca Maestri, Apple’s former CFO, will replace him. Kevan Parekh, who has been at Apple for 11 years, is responsible for Financial Planning and Analysis. He also oversees G&A and Benefits Finance as well as Investor Relations and Market Research. He began his career in marketing and was previously responsible for Worldwide Sales, Retail and Marketing Finance. Apple announced that Parekh would take over the role of CFO as Luca Maestri leaves his position on January 1, 2025. Maestri, who will continue to be involved with Apple as the leader of the Corporate Services team and report directly into CEO Tim Cook, will remain in that role. “Luca has been a remarkable partner in managing Apple on a long-term basis. He has played a key role in improving the financial performance of Apple, engaging with shareholders and instilling a financial discipline in every aspect of Apple. Cook said in a press release that “we’re fortunate to continue to benefit from his leadership and insight, which have been hallmarks of his tenure at Apple.” Kevan has been a member of Apple’s finance team for more than a year and knows the company well. His sharp intellect and financial brilliance, along with his wise judgment, make him an ideal choice for Apple’s next Chief Financial Officer. Luca Maestri, Tim Cook and others have been heard on earnings calls celebrating quarter after quarter’s success over the last decade. His leadership is no doubt responsible for Apple’s doubled revenue and five-fold growth in services during his tenure. Maestri said, “It’s the greatest honor of my professional career to serve the most innovative and admired organization in the world and to work with a leader so inspirational as Tim Cook.” “I look forward to the next phase of my Apple career, and I have great confidence in Kevan’s ability to lead the company as CFO. He is exceptional, has a love for Apple and the mission of the company, and he embodies leadership, judgement, and values which are important in this role. Maestri will still be on the earnings call after the iPhone 16 announcement, since the transition won’t happen until January 2025. The earnings call is likely to take place in November.