Apple Park
Luca Maestri has served as Apple’s CFO for over a decade, however he is stepping down and being changed by Kevan Parekh, Apple’s present VP of Monetary Planning and Evaluation.
Kevan Parekh has spent 11 years at Apple and leads Monetary Planning and Evaluation, G&A and Advantages Finance, Investor Relations, and Market Analysis. He was beforehand in command of Worldwide Gross sales, Retail, and Advertising and marketing finance and received his begin in advertising and marketing.
Apple shared that Parekh will take over as CFO on January 1, 2025, as Luca Maestri transitions from the function. Maestri will stay concerned in Apple as lead of the Company Companies groups and report on to CEO Tim Prepare dinner.
“Luca has been an extraordinary partner in managing Apple for the long term. He has been instrumental in improving and driving the company’s financial performance, engaging with shareholders, and instilling financial discipline across every part of Apple. We’re fortunate that we will continue to benefit from the leadership and insight that have been the hallmark of his tenure at the company,” Prepare dinner shared in a press release. “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.”
Luca Maestri and Tim Prepare dinner have been heard celebrating quarter after quarter of success over the previous decade on earnings calls. His management has little question performed a component in doubling Apple’s income and rising companies by 5 occasions throughout his tenure.
“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,” stated Maestri. “I’m looking forward to the next stage of my time at Apple, and I have enormous confidence in Kevan as he prepares to take the reins as CFO. He is truly exceptional, has a deep love for Apple and its mission, and he embodies the leadership, judgment, and values that are so important to this role.”
For the reason that transition will not happen till January 2025, there shall be not less than another earnings name with Maestri after the announcement of the iPhone 16. The earnings name will possible happen in early November.