Apple officially announced a leadership change in its finance division, with Kevan Parekh taking over as the new Chief Financial Officer (CFO).

Luca Maestri, who has served as Apple’s CFO since 2014, stepped down from the role on January 1, 2025. He will continue to lead Apple’s Corporate Services teams, including information systems, security, and real estate development, reporting directly to CEO Tim Cook.

Kevan Parekh, an 11-year Apple veteran, previously held the position of Vice President of Financial Planning and Analysis. In his new role, he will oversee Apple’s global financial strategy and investor relations. His annual salary as CFO will be $1 million, with eligibility for Apple’s Executive Cash Incentive Plan in fiscal year 2025.

Tim Cook praised Maestri’s tenure, highlighting his contributions to doubling Apple’s revenue and growing its service revenue more than fivefold.

Apple officially announced a leadership change in its finance division, with Kevan Parekh taking over as the new Chief Financial Officer (CFO).

Tim Cook praised Maestri’s tenure, highlighting his contributions to doubling Apple’s revenue and growing its service revenue more than fivefold.

Who is Kevan Parekh?

Prior Roles: Held senior positions at Thomson Reuters and General Motors before joining Apple.
Education: Holds a Bachelor of Science in Electrical Engineering from the University of Michigan and an MBA from the University of Chicago Booth School of Business.

This leadership transition was initially announced in August 2024 and formalized through a Form 8-K filing with the U.S. Securities and Exchange Commission (SEC).