Apple has announced that Kevan Parekh will step into the role of Chief Financial Officer (CFO) beginning in January. He will succeed Luca Maestri as part of a planned leadership transition, joining Apple's executive team. Currently, Parekh serves as the Vice President of Financial Planning and Analysis at the Cupertino-based technology company.
Tim Cook's Endorsement of Parekh
Apple CEO Tim Cook expressed strong support for Parekh's appointment, highlighting his extensive contributions over the past decade. "Kevan has been an integral part of Apple's finance leadership team for more than 10 years. His deep understanding of the company, coupled with his sharp intellect and sound judgment, makes him the ideal candidate to be Apple’s next CFO," Cook stated on August 27.
Kevan Parekh's Professional Journey
Kevan Parekh joined Apple in June 2013 after spending four years at Thompson Reuters in various roles. Before that, he worked at General Motors for over five years. He holds a Bachelor's degree in Electrical Engineering from the University of Michigan and an MBA from the University of Chicago.
Parekh's Current Role at Apple
In his current role at Apple, Parekh oversees financial planning and analysis, G&A and benefits finance, investor relations, and market research. He previously led finance for worldwide sales, retail, and marketing and began his tenure by supporting product marketing, internet sales and services, and engineering teams. According to reports, Maestri has been preparing Parekh to take over the CFO role, making him a crucial figure in the company who often reports directly to Cook on financial and sales matters. Recently, Parekh assumed responsibilities from former Apple finance executive Saori Casey, who left to become CFO of Sonos Inc.
Future Leadership Changes at Apple
Apple's management team may see further changes in the near future, as several senior executives are nearing 60 and have been with the company for decades. According to sources, India-born Sabih Khan could be in line to replace Apple’s current Chief Operating Officer, Jeff Williams. If Khan is promoted, Priya Balasubramaniam might step into his role as Senior Vice President of Operations. Additionally, Johny Srouji, who leads Apple’s hardware technologies division, might be succeeded by Sri Santhanam.
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