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Apple on Monday (August 27) named Kevan Parekh as its chief financial officer (CFO), replacing company veteran Luca Maestri who will transition from the role on January 1, 2025.
In a statement, Tim Cook, the company’s chief executive officer (CEO), said, “For more than a decade, Kevan has been an indispensable member of Apple’s finance leadership team, and he understands the company inside and out. His sharp intellect, wise judgment, and financial brilliance make him the perfect choice to be Apple’s next CFO.”
Born in 1972, Parekh is an electrical engineer with a Bachelor of Science from the University of Michigan and an MBA from the University of Chicago.
Before joining Apple, he held various senior leadership roles at Thomson Reuters and General Motors.
Parekh has been with Apple for 11 years — he started as the head of financial support for some of the company’s business divisions. Currently, he oversees financial planning, investor relations and market research functions. Parekh took on more responsibility late last year, when Maestri’s other top deputy Saori Casey stepped down, according to a report by Bloomberg.
“Maestri had been grooming Parekh for the CFO role during the last several months, and… Apple had been preparing to name Parekh as its next finance chief. Parekh also has increasingly attended private meetings with Apple financial analysts and partners,” the Bloomberg report said.
As the CFO of Apple, Parekh will be managing the company’s finances and strategy by undertaking major investment and financing decisions, and coordinating with key stakeholders.
In a statement, Maestri said, “He (Parekh) is truly exceptional, has a deep love for Apple and its mission, and he embodies the leadership, judgment, and values that are so important to this role.”
Parekh has joined the ever-expanding list of Indian-origin people becoming senior executives at global companies. The list includes Microsoft Chief Satya Nadella, Alphabet CEO Sundar Pichai, Adobe CEO Shantanu Narayen, and Tesla CFO Vaibhav Taneja, among others.
