Meet Kevan Parekh: The Indian-origin engineer who is set to become Apple¡¯s new CFO

Apple Inc., the world's most valuable company with a staggering market cap of $3.454 trillion, has made a significant leadership change. After Luca Maestri transitioned to Corporate Services, Indian-origin engineer Kevan Parekh was appointed Apple¡¯s new Chief Financial Officer (CFO). This marks Apple¡¯s second major reshuffle within a week, highlighting the tech giant¡¯s focus on strategic leadership.

Kevan Parekh¡¯s Journey at Apple

Kevan Parekh, 52, who has been with Apple for 11 years, has played a vital role in shaping the company¡¯s financial strategy. As an Indian-origin executive, his elevation to CFO is part of a ¡°planned succession¡± strategy. Currently serving as Apple¡¯s Vice President of Financial Planning and Analysis, Parekh will officially take over as CFO on January 1, 2025, joining Apple¡¯s executive team.

Educational Background: The Foundation of Success

Parekh¡¯s rise in Apple¡¯s ranks is built on a strong technical and business background. He holds a Bachelor of Science in Electrical Engineering from the University of Michigan and an MBA from the University of Chicago, one of the world¡¯s leading business schools. These qualifications have equipped him with the knowledge and skills essential for leading Apple¡¯s financial operations.

Kevan Parekh¡¯s Key Roles at Apple

Over his 11-year tenure at Apple, Parekh has proven himself to be an indispensable part of the company¡¯s financial leadership. He currently manages Financial Planning and Analysis, G&A and Benefits Finance, Investor Relations, and Market Research, reporting directly to CEO Tim Cook on crucial financial matters. Before this role, Parekh led finance for Apple¡¯s Worldwide Sales, Retail, and Marketing, showcasing his broad expertise across various business units.

A Groomed Successor: From Luca Maestri to Kevan Parekh

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According to Bloomberg, Luca Maestri has been preparing Kevan Parekh to step into the CFO role, ensuring a smooth transition. While Parekh may not yet be a household name, his contributions to Apple are significant. Recently, he took on additional responsibilities after former Apple finance executive Saori Casey left to join Sonos Inc. as CFO. His growing involvement with Apple¡¯s financial analysts and partners further highlights his readiness for the CFO role.

Kevan Parekh¡¯s Career Before Apple

Before joining Apple, Kevan Parekh had a successful career at Thomson Reuters and General Motors. At Reuters, he served as Vice President of Finance and later as Corporate Treasurer. At General Motors, he held senior roles including Director of Business Development and Regional Treasurer in Zurich, Europe. These experiences have enriched Parekh¡¯s financial expertise, making him a valuable asset to Apple.

Tim Cook¡¯s Confidence in Kevan Parekh

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Tim Cook, Apple¡¯s CEO, expressed his strong confidence in Kevan Parekh¡¯s abilities. ¡°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,¡± said Tim Cook, Apple¡¯s CEO.

¡°For more than a decade, Kevan has been an indispensable member of Apple¡¯s finance leadership team. His sharp intellect, wise judgment, and financial brilliance make him the perfect choice to be Apple¡¯s next CFO,¡± Cook stated.

¡°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. ¡°I¡¯m looking forward to the next stage of my time at Apple, and I have enormous confidence in Kevan as he prepares to take the reins as CFO. He is truly exceptional, has a deep love for Apple and its mission, and embodies the leadership, judgment, and values that are so important to this role.¡±

Luca Maestri, who will remain at Apple in a different role, also praised Parekh¡¯s capabilities, highlighting his deep connection to Apple¡¯s mission and values.

A New Chapter for Apple¡¯s Finance Leadership

As Kevan Parekh steps into his new role as Apple¡¯s CFO, the tech giant is poised for continued financial success. With his extensive experience and deep understanding of Apple¡¯s operations, Parekh is well-equipped to navigate the challenges and opportunities ahead. As an Indian-origin engineer, his appointment also reflects the growing influence of diverse leadership within global companies.

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