Apple Inc. has announced the appointment of Kevan Parekh as its new Chief Financial Officer (CFO), marking a significant leadership change within the tech giant’s executive team.
Parekh, who has been a pivotal part of Apple’s financial strategy for over a decade, will succeed longtime CFO Luca Maestri starting January 1, 2025.
The announcement comes just days before Apple’s highly anticipated fall event scheduled for September 9, where the company is expected to unveil its latest iPhone models featuring advanced artificial intelligence (AI) capabilities.
Prior to his tenure at Apple, Parekh held senior leadership positions at Thomson Reuters and General Motors.
Parekh holds a Bachelor of Science in Electrical Engineering from the University of Michigan and an MBA from the University of Chicago.
Apple CEO Tim Cook expressed strong confidence in Parekh’s appointment, stating, “For more than a decade, Kevan has been an indispensable member of Apple’s finance leadership team. His sharp intellect, wise judgment, and financial brilliance make him the perfect choice to be Apple’s next CFO.”
Even as he steps down from the CFO role, Maestri will continue to oversee critical corporate services teams, including information systems and technology, information security, and real estate development, ensuring continuity and stability within these essential departments.
In the June quarter, Apple reported impressive earnings with revenues reaching $85.8 billion, a 5% increase from the previous year, and achieved an all-time high in services revenue with a 14% growth.
Apple continues to see robust growth in India, recording another quarterly revenue record in the third quarter. The surge is not only driven by strong iPhone sales but also a notable increase in Mac computer purchases, emphasizing India’s growing importance in Apple’s global market strategy.
According to data from International Data Corporation (IDC), Apple leads the super-premium smartphone segment (priced above ₹67,000) in India with an impressive 83% market share, far outpacing competitors like Samsung, which holds a 16% share.
Kevan Parekh’s appointment as CFO is expected to bring fresh perspectives and sustained financial leadership to Apple as the company continues to innovate and expand its global footprint.
