Luca Maestri, who has held the position since 2014, will step down and be succeeded by long-time Apple executive Kevan Parekh.
Kevan Parekh, a veteran at Apple with 11 years of experience, has been a key figure in the company’s financial leadership. His responsibilities have included financial planning and analysis, general administration and benefits finance, investor relations, and market research.
Parekh initially joined Apple in 2013, working in finance and product marketing, and has played a significant role in overseeing global sales, retail, and marketing finance.
Like his predecessor Maestri, Parekh also has experience at General Motors, including managing overseas operations.
Apple CEO Tim Cook expressed his confidence in Parekh’s abilities, stating, “Kevan Parekh has been an integral member of Apple’s financial leadership team for more than a decade and knows the company inside and out. His sharp intelligence, sound judgment, and financial expertise make him the perfect choice to be Apple’s next CFO.”
In other news, Apple has sent out invitations for a product launch event at its headquarters on September 9. The event, themed “It’s glowtime,” will take place at the Steve Jobs Theater in Apple Park, where the company is expected to unveil the iPhone 16 and other new devices.