• Apple Inc. has appointed Kevan Parekh, an Indian-origin executive, as its new Chief Financial Officer (CFO).
• Parekh, who has been with Apple for over a decade, will officially assume his new role on January 1, 2025.
• Prior to this, Parekh held senior leadership roles at Thomson Reuters and General Motors.
• His appointment comes at a time when Apple's annual sales hit a record of almost $8 billion in FY24, up 33% from the previous fiscal.

Apple Inc. has made a significant announcement, appointing Indian-origin executive Kevan Parekh as its new Chief Financial Officer (CFO). Parekh, who has been an integral part of the tech giant for over a decade, will officially step into his new role on January 1, 2025. This appointment also marks his entry into the executive team at Apple, a significant milestone in his illustrious career.

The current CFO, Luca Maestri, will transition from his role and continue to lead the Corporate Services teams. His responsibilities will include overseeing information systems and technology, information security, and real estate and development. He will report directly to Apple CEO Tim Cook.

Parekh's journey at Apple has been marked by various senior leadership roles. He currently leads Financial Planning and Analysis, General and Administrative (G&A) and Benefits Finance, Investor Relations, and Market Research.

Parekh's Journey and Expertise

Before his current role, Parekh led Worldwide Sales, Retail, and Marketing Finance. His tenure at Apple began with leading the financial support of Apple's Product Marketing, Internet Sales and Services, and Engineering teams. His diverse roles at Apple have given him a deep understanding of the company's operations and financial strategies.

Prior to joining Apple, Parekh held senior leadership roles at Thomson Reuters and General Motors. His global experience and leadership skills were honed in these roles. Parekh's educational background includes a Bachelor's of Science in Electrical Engineering from the University of Michigan and an MBA from the University of Chicago.

Apple CEO Tim Cook has expressed his confidence in Parekh's abilities, stating, "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."

Apple's Financial Growth and Future

Parekh's appointment comes at a time when Apple's annual sales hit a record of almost $8 billion in FY24, up 33% from $6 billion in the previous fiscal. This growth has been attributed to the company's strategic investments and robust financial discipline, which have helped more than double its revenue, with services revenue growing more than five times.

Maestri's tenure as CFO has been marked by significant financial growth for Apple. His strategic investments and financial discipline have been instrumental in driving the company's financial performance. Under his leadership, Apple's revenue more than doubled, with services revenue growing over five times.

In his farewell speech, Maestri expressed his gratitude for the opportunity to serve Apple, stating, "It is the greatest privilege of my professional life to serve the world's most innovative and admired company, and to work side by side with a leader as inspirational as Tim Cook."

Parekh's appointment as CFO is a testament to Apple's commitment to diversity and inclusion. It also underscores the tech giant's recognition of the value of global experience and diverse perspectives in driving the company's financial performance and strategic growth.

Otherwise, Kevan Parekh's appointment as Apple's new CFO marks a significant milestone in his career and a strategic move for Apple. His diverse experience, deep understanding of the company, and financial expertise make him well-positioned to drive Apple's financial performance and strategic growth.

As the tech industry continues to evolve, Parekh's leadership will be instrumental in navigating Apple's financial future. His appointment also serves as an inspiration to other Indian-origin professionals in the tech industry, highlighting the opportunities for growth and leadership within global tech giants.