Who is Kevan Parekh, the Indian-origin man to take over as Apple's new CFO?

By Team Asianet Newsable | First Published Aug 27, 2024, 1:30 PM IST

Tech giant Apple on Monday named insider Kevan Parekh as its chief financial officer, replacing company veteran Luca Maestri who will transition from the role on Jan. 1, 2025. Parekh, who has been with Apple for more than a decade and will join the company's executive committee, most recently served as vice president of financial planning and analysis.

Apple has appointed Indian-origin engineer Kevan Parekh as its new Chief Financial Officer (CFO) in its second major leadership change by the tech giant in the last week. Parekh's appointment follows the transition of Luca Maestri, the current CFO, to a new role within the company.

Kevan Parekh, who currently holds the position of Vice President of Financial Planning and Analysis at Apple, will officially begin the role of CFO on January 1, 2025. Over his eleven years with Apple, Parekh has been preparing for his role as an executive team member, where he would be in charge of managing the company's financial strategy and operations.

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All you need to know about Kevan Parekh

Parekh's professional trajectory is reinforced by a robust academic foundation in both engineering and business. The University of Michigan awarded him a Bachelor of Science in Electrical Engineering. He studied for an MBA at the University of Chicago, which is well-known for its business programs, in order to further his knowledge in business.

Parekh, who is 52 years old, has already had a big impact on Apple. He joined the firm more than ten years ago and has grown to be an important member of its financial leadership team. He is now in charge of key departments like Investor Relations, Market Research, G&A and Benefits Finance, and Financial Planning and Analysis. He also has to answer directly to Tim Cook, the CEO of Apple.

Prior to taking on the position of Vice President of Financial Planning and Analysis, Parekh oversaw finance for the marketing, retail, and worldwide sales departments of Apple.

According to a Bloomberg report, Kevan Parekh was carefully groomed by his predecessor, Luca Maestri, for the CFO position over several months, reflecting the company's long-term planning and confidence in Parekh's abilities.

Before Apple, Parekh held senior leadership roles at Thomson Reuters and General Motors. At Thomson Reuters, he served in various senior leadership roles, including Vice President of Finance and Corporate Treasurer. His time at General Motors was equally distinguished, where he worked as the Director of Business Development in the New York office and as Regional Treasurer in Zurich, Europe.

Apple's CEO, Tim Cook, expressed strong confidence in Parekh's appointment as CFO. Cook praised Parekh's deep understanding of the company and his exceptional financial skills.

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