Apple Inc. has announced a major management change, appointing Indian-origin Kevan Parekh as the new Chief Financial Officer (CFO). He will take over from Luca Maestri, who is moving to a new role within the company. Kevan Parekh is currently Apple’s Vice President and will start as CFO on January 1, 2025. This is the second major change in Apple’s management in a week.

Kevan Parekh’s Background:

• Experience at Apple: Kevan Parekh has been with Apple for 11 years, contributing significantly to the company’s financial strategy and operations. He has become a key member of Apple’s financial team.
• Education: Parekh studied Electrical Engineering at the University of Michigan and later earned an MBA from the University of Chicago.
• Current Role: He currently handles financial planning and analysis and is known to report directly to Tim Cook.

Preparation for the CFO Role:

• Guidance from Luca Maestri: According to Bloomberg, Parekh has worked under Luca Maestri’s guidance, who has been preparing him for the CFO role for several months. Parekh also has experience in sales, retail, and marketing departments at Apple, giving him a strong understanding of the company’s business.
• Previous Experience: Before joining Apple, Parekh worked at Thomson Reuters as Vice President of Finance for four years and at General Motors as Director of Business Development.

Statements from Leadership:

• Tim Cook: Apple’s CEO, Tim Cook, expressed full confidence in Kevan Parekh’s abilities, highlighting his long tenure and contribution to various teams within Apple.
• Luca Maestri: The outgoing CFO, Luca Maestri, expressed excitement about his new responsibilities and confidence that Parekh’s leadership will strengthen Apple’s financial position.

Kevan Parekh’s appointment as CFO marks a significant step in Apple’s management evolution.