August 26, 2024
PRESS RELEASE
Apple proclaims Chief Monetary Officer transition
CUPERTINO, CALIFORNIA Apple at present introduced that Chief Monetary Officer Luca Maestri will transition from his position on January 1, 2025. Maestri will proceed to steer the Company Providers groups, together with info programs and know-how, info safety, and actual property and growth, reporting to Apple CEO Tim Prepare dinner. As a part of a deliberate succession, Kevan Parekh, Apple’s Vice President of Monetary Planning and Evaluation, will change into Chief Monetary Officer and be part of the manager group.
“Luca has been a unprecedented companion in managing Apple for the long run. He has been instrumental in bettering and driving the corporate’s monetary efficiency, participating with shareholders, and instilling monetary self-discipline throughout each a part of Apple. We’re lucky that we’ll proceed to learn from the management and perception which were the hallmark of his tenure on the firm,” stated Tim Prepare dinner, Apple’s CEO.
“For greater than a decade, Kevan has been an indispensable member of Apple’s finance management group, and he understands the corporate inside and outside. His sharp mind, clever judgment, and monetary brilliance make him the right option to be Apple’s subsequent CFO.”
Throughout his time as CFO, Maestri enabled important investments and practiced sturdy monetary self-discipline, which collectively helped the corporate greater than double its income, with companies income rising greater than 5 instances.
“It’s the best privilege of my skilled life to serve the world’s most progressive and admired firm, and to work aspect by aspect with a frontrunner as inspirational as Tim Prepare dinner,” stated Maestri. “I’m trying ahead to the subsequent stage of my time at Apple, and I’ve huge confidence in Kevan as he prepares to take the reins as CFO. He’s really distinctive, has a deep love for Apple and its mission, and he embodies the management, judgment, and values which are so vital to this position.”
Parekh has been at Apple for 11 years and at present leads Monetary Planning and Evaluation, G&A and Advantages Finance, Investor Relations, and Market Analysis. Previous to this position, Parekh led Worldwide Gross sales, Retail, and Advertising Finance. He started his tenure main the monetary assist of Apple’s Product Advertising, Web Gross sales and Providers, and Engineering groups.
Earlier than becoming a member of Apple, Parekh held varied senior management roles at Thomson Reuters and Normal Motors, the place he additionally had in depth world expertise. Parekh is {an electrical} engineer with a Bachelor’s of Science from the College of Michigan and an MBA from the College of Chicago.
About Apple
Apple revolutionized private know-how with the introduction of the Macintosh in 1984. As we speak, Apple leads the world in innovation with iPhone, iPad, Mac, AirPods, Apple Watch, and Apple Imaginative and prescient Professional. Apple’s six software program platforms — iOS, iPadOS, macOS, watchOS, visionOS, and tvOS — present seamless experiences throughout all Apple units and empower individuals with breakthrough companies together with the App Retailer, Apple Music, Apple Pay, iCloud, and Apple TV+. Apple’s greater than 150,000 workers are devoted to creating the very best merchandise on earth and to leaving the world higher than we discovered it.
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