Apple CFO Luca Maestri to step down in 2025, succeeded by Kevan Parekh

Amjad Ali August 27, 2024

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Apple just announced that the company’s CFO (Chief Financial Officer) Luca Maestri will be transitioning out of his role on January 1, 2025. He will continue to lead the Corporate Services teams, including information systems and technology, information security, and real estate and development, and will be reporting to Apple CEO Tim Cook. Kevan Parekh, Apple’s Vice President of Financial Planning and Analysis will be succeeding him in the role of Apple’s Chief Financial Officer.

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.

–Tim Cook, Apple CEO, August 26, Apple Newsroom

Tim Cook also praised Kevan Parekh for being an indispensable member of the company’s leadership team and stated he was the perfect choice for Apple’s next CFO. As a CFO, Maestri was credited for enabling essential investments and helping the company more than double its revenue. The service revenue also grew more than five times. Meanwhile, Parekh has been with Apple for 11 years, and he is currently responsible for leading Financial Planning and Analysis, G&A and Benefits Finance, Investor Relations, and Market Research.

Parekh is an electrical engineer with a Bachelor of Science from the University of Michigan and an MBA from the University of Chicago.

In my opinion, it will be interesting to see how Apple’s financial strategies evolve under Kevan Parekh’s leadership. I personally think that Luca Maestri’s continued presence in the company will help ensure a smooth transition as well.

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Izzy, a tech enthusiast and a key part of the PhoneArena team, specializes in delivering the latest mobile tech news and finding the best tech deals. Her interests extend to cybersecurity, phone design innovations, and camera capabilities. Outside her professional life, Izzy, a literature master’s degree holder, enjoys reading, painting, and learning languages. She’s also a personal growth advocate, believing in the power of experience and gratitude. Whether it’s walking her Chihuahua or singing her heart out, Izzy embraces life with passion and curiosity.

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