August 26, 2024
PRESS RELEASE
Apple publicizes Chief Monetary Officer transition
CUPERTINO, CALIFORNIA Apple at this time introduced that Chief Monetary Officer Luca Maestri will transition from his position on January 1, 2025. Maestri will proceed to steer the Company Providers groups, together with data methods and expertise, data safety, and actual property and improvement, reporting to Apple CEO Tim Cook dinner. As a part of a deliberate succession, Kevan Parekh, Apple’s Vice President of Monetary Planning and Evaluation, will grow to be Chief Monetary Officer and be a part of the manager group.
“Luca has been a unprecedented accomplice in managing Apple for the long run. He has been instrumental in enhancing and driving the corporate’s monetary efficiency, partaking with shareholders, and instilling monetary self-discipline throughout each a part of Apple. We’re lucky that we’ll proceed to profit from the management and perception which were the hallmark of his tenure on the firm,” stated Tim Cook dinner, Apple’s CEO.
“For greater than a decade, Kevan has been an indispensable member of Apple’s finance management group, 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 strong monetary self-discipline, which collectively helped the corporate greater than double its income, with companies income rising greater than 5 occasions.
“It’s the best privilege of my skilled life to serve the world’s most progressive and admired firm, and to work aspect by aspect with a pacesetter as inspirational as Tim Cook dinner,” stated Maestri. “I’m trying ahead to the following stage of my time at Apple, and I’ve monumental 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 can be so necessary to this position.”
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 position, Parekh led Worldwide Gross sales, Retail, and Advertising and marketing Finance. He started his tenure main the monetary assist of Apple’s Product Advertising and marketing, Web Gross sales and Providers, and Engineering groups.
Earlier than becoming a member of Apple, Parekh held numerous senior management roles at Thomson Reuters and Normal Motors, the place he additionally had in depth international 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 expertise 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 individuals 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 one of the best merchandise on earth and to leaving the world higher than we discovered it.
Press Contact
Josh Rosenstock
Apple
(408) 862-1142
Investor Relations Contact
Suhasini Chandramouli
Apple
(408) 974-3123
© 2024 Apple Inc. All rights reserved. Apple and the Apple emblem are emblems of Apple. Different firm and product names could also be emblems of their respective homeowners.
