Maestri to Leave CFO Position at Apple

Apple announced that Chief Financial Officer Luca Maestri will transition from 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. As part of a planned succession, Kevan Parekh, Vice President of Financial Planning and Analysis, will become CFO and join the executive team.

“Luca has been an extraordinary partner in managing Apple 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,” said Apple CEO Tim Cook.

During his time as CFO, Maestri enabled essential investments and practiced robust financial discipline, which together helped the company more than double its revenue, with services revenue growing more than five times. “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,” said Maestri.

Talking about the new CFO, Cook said: “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.”

Parekh has been at Apple for 11 years and currently leads Financial Planning and Analysis, G&A and Benefits Finance, Investor Relations, and Market Research. Before this role, Parekh led Worldwide Sales, Retail, and Marketing Finance. He began his tenure leading the financial support of Apple’s Product Marketing, Internet Sales and Services, and Engineering teams. Before joining Apple, Parekh held various senior leadership roles at Thomson Reuters and General Motors.