Apple has officially announced the appointment of Kevan Parekh, an Indian-origin engineer, as its next Chief Financial Officer (CFO). Parekh will take over the role on January 1, 2025, succeeding Luca Maestri, who has been a pivotal figure in Apple's financial management for nearly a decade.

As per the official announcement, while Parekh steps into this critical role, Maestri will transition to continue leading the Corporate Services teams, including information systems and technology, information security, and real estate and development, reporting directly to CEO Tim Cook.

Who is Kevan Parekh?

Kevan Parekh, who has been with Apple for 11 years, is currently serving as the Vice President of Financial Planning and Analysis. In this role, Parekh has led key areas such as Financial Planning, General & Administrative (G&A) and Benefits Finance, Investor Relations, and Market Research, as per the official blog by Apple.

Parekh's career at Apple began with leading financial support for Apple's Product Marketing, Internet Sales and Services, and Engineering teams. He later moved on to lead finance for Worldwide Sales, Retail, and Marketing.

Before joining Apple, Parekh held senior leadership roles at Thomson Reuters and General Motors. He is an electrical engineer with a Bachelor of Science from the University of Michigan and an MBA from the University of Chicago.

What does Tim Cook say about him?

In the official statement, Tim Cook expressed his confidence in Parekh, saying, "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."

Luca Maestri also voiced his support for Parekh, stating, "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 embodies the leadership, judgment, and values that are so important to this role."

The leadership transition comes at a critical time for Apple, as the company gears up for its highly anticipated fall product launches, expected to feature the most significant software upgrades for the iPhone to date. Parekh's appointment as CFO is being seen as a strategic move to ensure continuity and stability in Apple's financial operations.