Apple's New Money Maestro: Kevan Parekh Takes the CFO Reins in 2025

Get ready for a changing of the guard in Apple's financial C-suite! The tech giant has officially welcomed Kevan Parekh as its new Chief Financial Officer, effective January 1, 2025. This isn't a sudden move, though. Apple had been prepping investors for this transition, laying out the succession plan last year when they announced that long-time CFO Luca Maestri would be shifting to a new role within the company. Now, it's official – Parekh's time to shine has arrived.

Kevan Parekh: The Man Behind the Numbers

So, who is Kevan Parekh, and how did he land the top finance job at one of the world's most valuable companies? Parekh is no stranger to Apple. He is a seasoned financial professional. He's been with the company since June 2013, so he's deeply familiar with Apple's inner workings. Before joining the Cupertino giant, he honed his financial expertise at Thomson Reuters and General Motors, holding senior leadership positions. At Apple, he's climbed the ranks, serving as Vice President of Financial Planning and Analysis, and Vice President of Finance for Sales, Marketing, and Retail. This guy knows his stuff, having dealt with everything from budgeting and forecasting to overseeing the financial side of Apple's massive sales and marketing machine. He brings extensive experience to the table, having navigated the financial landscapes of both the tech and automotive industries.

From GM and Thomson Reuters to Apple's Inner Circle

Before joining Apple in 2013, Parekh held senior leadership roles at two major corporations. At General Motors, he gained valuable experience in the automotive industry, understanding the intricacies of manufacturing, supply chains, and global markets. His time at Thomson Reuters, a leading provider of news and information-based tools, exposed him to the fast-paced world of media and data analytics.

Maestri's New Role

While Parekh steps into the CFO spotlight, Apple veteran Luca Maestri isn't leaving the company. Instead, he's taking on a new challenge, overseeing Apple's Corporate Services teams. This means he'll be responsible for crucial areas like information systems and technology, cybersecurity, and real estate development – essential functions that keep a company of Apple's size running smoothly.

The Financial Details

As you might expect, taking on the CFO role at Apple comes with a hefty pay raise. Apple disclosed in a regulatory filing (Form 8-K with the SEC, to be precise) that Parekh's annual compensation has been bumped up to a cool $1 million. He'll also be eligible to participate in Apple's Executive Cash Incentive Plan for fiscal year 2025, which means there's potential for even more financial rewards based on performance.

 The appointment of Kevan Parekh as Apple's CFO marks a significant moment for the tech giant. It's not just a change in personnel; it's a strategic move that reflects the company's evolution and its focus on the future. With his deep understanding of Apple's business and his extensive experience in finance, Parekh is well-positioned to guide the company's financial strategy in an increasingly complex and competitive global landscape. This transition signals a new chapter for Apple, and the financial world will be watching closely to see how Parekh's leadership shapes the company's trajectory in the years to come. His leadership will be crucial in navigating the ever-evolving tech landscape and ensuring Apple's continued financial success. The change of guard at the financial helm of such a significant company is a powerful statement, indicating Apple's ongoing commitment to innovation and growth, which will likely have a profound impact on the tech and financial industries for years to come.