August 26, 2024
PRESS RELEASE
Apple declares Chief Monetary Officer transition
CUPERTINO, CALIFORNIA Apple in the present day introduced that Chief Monetary Officer Luca Maestri will transition from his function on January 1, 2025. Maestri will proceed to guide the Company Companies groups, together with info techniques and know-how, info safety, and actual property and growth, reporting to Apple CEO Tim Prepare dinner. As a part of a deliberate succession, Kevan Parekh, Apple’s Vice President of Monetary Planning and Evaluation, will turn out to be Chief Monetary Officer and be a part of the chief staff.
“Luca has been a rare accomplice in managing Apple for the long run. He has been instrumental in bettering and driving the corporate’s monetary efficiency, participating with shareholders, and instilling monetary self-discipline throughout each a part of Apple. We’re lucky that we’ll proceed to learn from the management and perception which have been the hallmark of his tenure on the firm,” mentioned Tim Prepare dinner, Apple’s CEO.
“For greater than a decade, Kevan has been an indispensable member of Apple’s finance management staff, and he understands the corporate in and out. His sharp mind, clever judgment, and monetary brilliance make him the right option to be Apple’s subsequent CFO.”
Throughout his time as CFO, Maestri enabled important investments and practiced sturdy monetary self-discipline, which collectively helped the corporate greater than double its income, with companies income rising greater than 5 instances.
“It’s the biggest privilege of my skilled life to serve the world’s most progressive and admired firm, and to work facet by facet with a pacesetter as inspirational as Tim Prepare dinner,” mentioned Maestri. “I’m wanting ahead to the following stage of my time at Apple, and I’ve huge confidence in Kevan as he prepares to take the reins as CFO. He’s really distinctive, has a deep love for Apple and its mission, and he embodies the management, judgment, and values which are so vital to this function.”
Parekh has been at Apple for 11 years and at the moment leads Monetary Planning and Evaluation, G&A and Advantages Finance, Investor Relations, and Market Analysis. Previous to this function, Parekh led Worldwide Gross sales, Retail, and Advertising Finance. He started his tenure main the monetary help of Apple’s Product Advertising, Web Gross sales and Companies, and Engineering groups.
Earlier than becoming a member of Apple, Parekh held numerous senior management roles at Thomson Reuters and Common Motors, the place he additionally had intensive world expertise. Parekh is {an electrical} engineer with a Bachelor’s of Science from the College of Michigan and an MBA from the College of Chicago.
About Apple
Apple revolutionized private know-how with the introduction of the Macintosh in 1984. In the present day, Apple leads the world in innovation with iPhone, iPad, Mac, AirPods, Apple Watch, and Apple Imaginative and prescient Professional. Apple’s six software program platforms — iOS, iPadOS, macOS, watchOS, visionOS, and tvOS — present seamless experiences throughout all Apple gadgets and empower folks with breakthrough companies together with the App Retailer, Apple Music, Apple Pay, iCloud, and Apple TV+. Apple’s greater than 150,000 staff are devoted to creating the most effective merchandise on earth and to leaving the world higher than we discovered it.
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