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With Parekh stepping into the CFO role, Apple aims to continue its robust financial strategy under his guidance.
Kevan Parekh succeeds Luca Maestri, who has been Apple’s CFO since 2014.
Kevan Parekh, an Indian-origin executive, has been appointed as the new Chief Financial Officer (CFO) of Apple Inc., effective January 1, 2025. Apple has confirmed that Parekh will receive an annual salary of $1 million (approximately Rs 8.57 crore). In addition to his base salary, Parekh is eligible to participate in Apple’s Executive Cash Incentive Plan for fiscal year 2025.
Kevan Parekh’s Journey at Apple
Parekh joined Apple in June 2013 and has since held key positions, including Vice President of Financial Planning and Analysis and Vice President of Finance for Sales, Marketing, and Retail. His contributions to Apple’s financial strategy and operations have positioned him as a natural successor for the CFO role.
Previous Experience
Before his tenure at Apple, Parekh held senior leadership roles at Thomson Reuters and General Motors, where he honed his expertise in financial management and corporate strategy.
The CFO Transition
Parekh succeeds Luca Maestri, who has been Apple’s CFO since 2014. As part of the company’s planned transition, Maestri will take on a new role overseeing Apple’s Corporate Services teams. His responsibilities will include managing information systems and technology, cybersecurity, and real estate and development.
Apple’s Board of Directors announced Parekh’s appointment as CFO through a regulatory filing with the U.S. Securities and Exchange Commission (SEC) on Friday.
“Kevan Parekh, 53, has been appointed as Apple’s Senior Vice President and Chief Financial Officer, effective January 1, 2025,” the filing stated.
A New Chapter for Apple’s Finance Leadership
With Parekh stepping into the CFO role, Apple aims to continue its robust financial strategy under his guidance. Meanwhile, Maestri’s new responsibilities signal a shift toward strengthening Apple’s operational and technological infrastructure.
This announcement marks a significant milestone for Parekh, who now joins the ranks of Indian-origin leaders in top positions at global technology companies.
