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Apple has confirmed a leadership change within its finance division, with Kevan Parekh set to succeed Luca Maestri as Chief Financial Officer (CFO) effective January 1st, 2025. Parekh, who currently serves as Apple’s Vice President of Financial Planning and Analysis, will join the executive team as part of a planned succession strategy.
“Luca has been an extraordinary partner in managing Apple for the long term. He has been instrumental in improving and driving the company’s financial performance, engaging with shareholders, and instilling financial discipline across every part of Apple. We’re fortunate that we will continue to benefit from the leadership and insight that have been the hallmark of his tenure at the company,” said Tim Cook, Apple’s CEO.
While serving as CFO, Maestri enabled crucial investments and maintained strong financial discipline, resulting in the company more than doubling its revenue, with services revenue increasing over fivefold.
“It is the greatest privilege of my professional life to serve the world’s most innovative and admired company, and to work side by side with a leader as inspirational as Tim Cook,” said Maestri. “I’m looking forward to the next stage of my time at Apple, and I have enormous confidence in Kevan as he prepares to take the reins as CFO. He 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.”
Luca Maestri, who has served as Apple’s CFO since 2014, officially stepped down from his role on January 1, 2025. He will keep steering Apple’s Corporate Services teams, which encompass information systems, security, and real estate development while reporting directly to CEO Tim Cook.
Parekh has dedicated 11 years to Apple, where he currently oversees Financial Planning and Analysis, G&A and Benefits Finance, Investor Relations, and Market Research. Before taking on this position, Parekh was at the helm of Worldwide Sales, Retail, and Marketing Finance. He started his role by overseeing the financial backing for Apple’s Product Marketing, Internet Sales and Services, and Engineering teams.
Prior to his time at Apple, Parekh served in several senior leadership positions at Thomson Reuters and General Motors, gaining significant global experience along the way. Parekh holds a Bachelor of Science in electrical engineering from the University of Michigan and an MBA from the University of Chicago.
