Who is Kevan Parekh, Apple’s new Indian-origin CFO?

Technology giant Apple has named Kevan Parekh, the company’s vice president of financial planning and analysis, as chief financial officer (CFO) on Monday, August 27.

Parekh will replace the company’s old hand Luca Maestri who will continue to lead the Corporate Service teams, including information systems and technology, information security, and real estate and development, reporting directly to Apple’s CEO Tim Cook. During Maestri’s tenure, Apple Inc doubled its revenue and its services revenue grew more than five times.

As part of planned succession, Parekh will take over as the CFO of the company on January 1, 2025. He has been working with Apple for more than a decade and has played an important role in the financial strategy and operations of the company.

Cook and Maestri showed immense confidence in Parekh’s capabilities to start his new journey at the company.

“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 judgement, and financial brilliance make him the perfect choice to be Apple’s next CFO,” said Cook.

Maestri also mentioned that he is looking forward to his next stage at Apple and added that Parekh “has a deep love for Apple and its mission, and he embodies the leadership, judgement, and values that are so important to this role.”

Key things to know about Kevan Parekh

• Parekh has worked with Apple for 11 years and will take the position of CFO on January 1, 2025.

• He currently leads Financial Planning and Analysis, G&A and Benefits Finance, Investor Relations, and Market Research.

• Before his current role as the VP of Financial Planning and Analysis, he led “Worldwide Sales, Retail, and Marketing Finance”, as per a release issued by Apple.

• He started his tenure as the lead of the financial support of Apple’s Product Marketing, Internet Sales and Services, and Engineering teams.

• Before Apple, he has worked with Thomson Reuters and General Motors in senior leadership roles.

• He has done his Bachelor’s of Science at the University of Michigan along with an MBA from the University of Chicago.

• A report by Bloomberg suggested that Parekh was being trained by Maestri for the role of CFO during the last few months.

• At Reuters, Parekh worked for four years and held important positions as Vice President of Finance and Corporate Treasurer.

• He held the position of Director of Business Development and Regional Treasurer at several offices of General Motors.

• The announcement by Apple declaring Parekh as the CFO comes ahead of Apple’s fall event on September 9 in California where the company is expected to launch its new iPhone series.