Apple Inc. has announced that Kevan Parekh, an Indian-origin engineer currently serving as Vice President of Financial Planning and Analysis, will become the company's new Chief Financial Officer (CFO) starting January 1, 2025. This move comes as part of a significant leadership shakeup at the tech giant.

Parekh, who has been with Apple for over a decade, will succeed Luca Maestri, who is transitioning to the Corporate Services teams. This appointment marks Apple's second major executive change in just one week.

About Kevan Parekh

Kevan Parekh's rise to CFO reflects his extensive technical and business expertise. He earned a Bachelor of Science in Electrical Engineering from the University of Michigan and furthered his education with an MBA from the University of Chicago, renowned for its prestigious business programs.

Joining Apple 11 years ago, Parekh has been a vital part of the company's finance team. In his current role as Vice President of Financial Planning and Analysis, he manages key areas including Financial Planning, Investor Relations, and Market Research. Parekh's responsibilities also include overseeing G&A and Benefits Finance and reporting directly to CEO Tim Cook.

Before Apple, Parekh built a distinguished career at Thomson Reuters and General Motors. At Reuters, he held various senior positions, including Vice President of Finance, and served as Corporate Treasurer. His tenure at General Motors saw him in roles such as Director of Business Development and Regional Treasurer in Zurich.

Confidence in the New CFO

Apple’s CEO Tim Cook expressed strong support for Parekh, highlighting his profound understanding of the company and his exceptional financial skills. "Kevan has been a crucial member of Apple’s finance team for over a decade. His intellect, judgment, and financial expertise make him the ideal candidate for CFO," Cook said.

Luca Maestri, who will remain at Apple in a new role, also voiced his confidence in Parekh's capabilities. "I have great trust in Kevan as he steps into the CFO role. His deep commitment to Apple and his exemplary leadership make him the perfect choice for this position," Maestri remarked.

Apple iPhone 16 Series: Leak Reveals Potential Pricing in India

Apple's iPhone 16 Pro and Pro Max: Major Upgrades in Screen Size and Performance

New iOS Bug Causes iPhones to Crash with Simple Text String, All You Need To Know