Apple Names Kevan Parekh as New CFO: Who Is He?

On Monday, August 26, Apple announced the appointment of Kevan Parekh, an Indian-origin executive who has been with the company for over a decade, as its new Chief Financial Officer (CFO). Parekh, currently Vice President of Financial Planning and Analysis, will succeed Luca Maestri as CFO starting January 1, 2025.

This leadership shift occurs as Apple prepares for several major product launches this autumn, anticipated to be the most significant software updates for the iPhone yet.

 

Profile of Kevan Parekh

Before his tenure at Apple, Parekh held high-ranking positions at Thomson Reuters and General Motors. He earned a Bachelor of Science in Electrical Engineering in 1993 from the University of Michigan and later completed an MBA at The University of Chicago Booth School of Business.

Analysts have positively noted the transition’s smoothness. D.A. Davidson analyst Gil Luria told Reuters that the planned, orderly transition is crucial. Luria emphasized the importance of Maestri remaining at Apple to mitigate any financial uncertainties. He also suggested that Parekh might continue Apple’s careful capital management and possibly reignite efforts towards strategic acquisitions.

 

Future Role of Luca Maestri

Apple has confirmed that Luca Maestri will still play a vital role within the company, leading the corporate services teams—this includes information systems and technology, information security, and real estate and development. He will report directly to CEO Tim Cook. Under Maestri’s leadership, Apple’s revenue more than doubled, and its services revenue increased by over five times.