Indian-origin executive Kevan Parekh has been appointed Chief Financial Officer (CFO) of Apple Inc., marking a pivotal moment in both his career and the tech giant’s leadership journey.
Effective Wednesday (1), Parekh succeeds Luca Maestri, who held the position for nearly 11 years. A first-generation Indian-American, Parekh has been an integral part of Apple for over a decade, contributing significantly to the company’s financial and business strategies.
Parekh joined Apple in 2013 and quickly ascended the ranks through his expertise and strategic insights. Before being named CFO, he served as Vice President of Financial Planning and Analysis, where he played a key role in shaping the company’s long-term financial strategies and operational excellence.
In his decade-long tenure, Parekh held multiple critical roles, including Vice President of Worldwide Finance Support. In this capacity, he managed financial functions across Apple’s core divisions, including Engineering, Marketing, Retail, Sales, and iTunes.
Apple CEO Tim Cook acknowledged Parekh’s exceptional contributions, stating, “Kevan has been an essential part of Apple’s finance team and deeply understands the company. His sharp intellect and financial expertise make him the ideal choice for this role.”
As Apple’s new CFO, Parekh will receive an annual salary of $1 million along with participation in Apple’s Executive Cash Incentive Plan for fiscal year 2025. According to Apple’s filing with the United States Securities and Exchange Commission (SEC), Parekh’s incentive package offers a target opportunity of 175 per cent of his base salary, tied to his performance during the fiscal year.
His role as CFO places him at the helm of financial operations for the world’s most valuable technology company, ensuring Apple remains a global leader in innovation, sustainability, and profitability.
Parekh holds a Bachelor of Science in Electrical Engineering from the University of Michigan and an MBA from the University of Chicago. Before joining Apple, he gained extensive experience working with Thomson Reuters and General Motors, where he managed financial operations across Europe and Asia.
These roles provided Parekh with a deep understanding of global markets and financial systems, preparing him for leadership at one of the world’s most iconic companies.
Kevan Parekh’s appointment as CFO underscores Apple’s commitment to fostering diversity and recognizing talent within its ranks.
As a member of the executive leadership team, Parekh is poised to play a crucial role in navigating Apple’s financial landscape, ensuring its continued growth and resilience in an ever-evolving tech industry.
