Who is Apple’s new CFO Kevan Parekh?

Apple has announced that Kevan Parekh will be the company’s new Chief Financial Officer (CFO), replacing Luca Maestri.

Maestri will step down from the role at the end of 2024. He will lead the Corporate Services team, which will include information systems and technology, information security, and real estate and development.

In a statement, the tech giant’s CEO Tim Cook 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, Kevan Parekh is an electrical engineer with a Bachelor of Science from the University of Michigan.

During this time, he was actively involved in various student organisations and research projects, which helped him gain practical experience and a deeper understanding of his field.

Parekh furthered his education by pursuing an MBA at the University of Chicago.

He completed his MBA in 2000, specialising in finance and strategic management.

His time at the University of Chicago was marked by rigorous coursework, participation in case competitions, and networking with industry leaders, all of which contributed to his comprehensive understanding of business operations and financial strategies.

Before joining Apple, Parekh held senior leadership roles at Thomson Reuters and General Motors.

He has worked for Apple for 11 years.

Parekh started as the head of financial support for some of the company’s business divisions.

He currently oversees financial planning, investor relations and market research functions.

According to a Bloomberg report, Parekh took on more responsibility in late 2023 when Maestri’s other top deputy Saori Casey stepped down.

The report said: “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.”

As Apple’s new CFO, Kevan Parekh will be managing the company’s finances and strategy by undertaking major investment and financing decisions and coordinating with key stakeholders.

Luca Maestri said: “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.”

Parekh joins the ever-growing list of Indian-origin senior executives at global companies, including Alphabet CEO Sundar Pichai and Tesla CFO Vaibhav Taneja.