Apple Inc. has announced the appointment of Indian-origin executive Kevan Parekh as its new Chief Financial Officer (CFO), effective January 1, 2025. Parekh succeeds Luca Maestri, who held the role for nearly 11 years. This marks another significant milestone in Parekh’s distinguished career, with an annual salary of $1 million (Rs 8.57 crore) accompanying his new role.
Parekh joined Apple in June 2013 and quickly became an integral part of the company’s growth and success. He holds a Bachelor’s degree in Electrical Engineering from the University of Michigan and an MBA from the University of Chicago. Over the years, Parekh has contributed significantly in areas such as financial planning, investor relations, and market research.
With expertise extending beyond finance, Parekh has collaborated closely with product marketing, engineering teams, and various departments at Apple, contributing to key strategies and operations. Bloomberg reports that outgoing CFO Luca Maestri mentored Parekh for this role, making him the natural choice for the position. Though not a household name, Parekh is a trusted advisor within Apple, regularly providing CEO Tim Cook with crucial financial insights.
Before joining Apple, Parekh held senior leadership roles at Thomson Reuters and General Motors. Apple CEO Tim Cook has praised his sharp intellect, sound judgment, and deep understanding of the company’s operations, qualities that will undoubtedly serve him well in his new role as CFO.
As Parekh takes on this critical role, Apple is poised to continue its growth under his financial leadership, with a focus on innovation, efficiency, and strategic vision for the company’s future.
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