Apple has named Kevan Parekh as its next Chief Financial Officer (CFO), effective January 1, 2025. Parekh will succeed Luca Maestri, marking a significant leadership change as he steps into a vital role overseeing Apple’s financial strategy.
Meet Kevan Parekh
Born in 1972, Kevan Parekh is an accomplished electrical engineer with a Bachelor of Science degree from the University of Michigan and an MBA from the University of Chicago. Before his time at Apple, Parekh held prominent positions at Thomson Reuters and General Motors, where he built a reputation for strong financial acumen. He joined Apple over 11 years ago, initially leading financial support for various business units. Currently, he manages financial planning, investor relations, and market research. Parekh’s responsibilities expanded recently, especially after Saori Casey, the former deputy to Maestri, departed the company.
What to Expect from Parekh as Apple’s CFO
For months, Maestri has been preparing Parekh to take on the CFO role. Parekh has increasingly been seen in high-level meetings with financial analysts and key partners, signaling his growing influence within Apple’s financial team. As CFO, Parekh will steer Apple’s financial operations, strategic planning, and key investment decisions. His role will involve collaborating closely with stakeholders and guiding the company’s financial future.
Leadership Recognition and Broader Impact
Parekh’s leadership qualities have been recognized by both Luca Maestri and Apple CEO Tim Cook, who commend his exceptional judgment, commitment, and alignment with Apple’s core values. Parekh’s elevation also underscores the rising influence of Indian-origin executives in global tech leadership, joining the ranks of notable figures like Satya Nadella and Sundar Pichai.
Interesting Facts About Apple
- Founders: Apple was founded in 1976 by Steve Jobs, Steve Wozniak, and Ronald Wayne.
- Original Logo: The first Apple logo featured Isaac Newton sitting under an apple tree.
- First Product: Apple’s initial product, the Apple I, was priced at $666.66.
- Name Origin: The name “Apple” was inspired by Steve Jobs’ fondness for the fruit.
- Revenue Driver: The iPhone is Apple’s most significant product, contributing to over half of its revenue.
- Financial Powerhouse: Apple boasts more than $200 billion in cash reserves, making it one of the world’s wealthiest companies.
- Headquarters: Apple’s iconic campus, Apple Park, spans 175 acres.
Parekh’s appointment as CFO marks a new chapter for Apple as it continues to innovate and maintain its position as a leader in technology.
