• By Imran Zafar
  • Tue, 27 Aug 2024 07:27 PM (IST)
  • Source:JND

Indian-origin Kevan Parekh has been appointed as Apple's new Chief Financial Officer (CFO), effective January 1, 2025. Kevan Parekh, who has been with Apple for over a decade, will replace Luca Maestri, the current CFO. Luca Maestri will transition from his role but continue to lead Corporate Services teams, including information systems, technology and real estate, reporting directly to CEO Tim Cook.

Kevan Parekh's promotion comes after years of his contributions to Apple's financial strategy and leadership. He currently holds the position of Vice President of Financial Planning and Analysis, overseeing areas such as General and Administrative Finance, Investor Relations and Market Research. 

A person of Indian origin, Kevan Parekh's journey to this pinnacle began with an engineering degree from the University of Michigan, followed by an MBA from the University of Chicago Booth School of Business. His early career included senior roles at General Motors and Thomson Reuters, where he gained extensive global experience in finance.

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Joining Apple in 2013, Kevan Parekh initially led financial support for Product Marketing, Internet Sales, Services and Engineering. He later headed Worldwide Sales, Retail and Marketing Finance before taking on his current responsibilities. 

Kevan Parekh's appointment as CFO is seen as a natural progression, having been groomed for the role by Maestri in the lead-up to this transition. "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," Maestri said.

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Apple CEO Tim Cook also expressed strong confidence in Kevan Parekh's capabilities, stating that his "sharp intellect, wise judgment and financial brilliance" make him a perfect fit for the role of CFO. 

(With Agency Inputs)