August 26, 2024
PRESS RELEASE
Apple declares Leader Monetary Officer transition
CUPERTINO, CALIFORNIA Apple these days introduced that Leader Monetary Officer Luca Maestri will transition from his position on January 1, 2025. Maestri will proceed to guide the Company Services and products groups, together with data programs and era, data safety, and actual property and building, reporting to Apple CEO Tim Cook dinner. As a part of a deliberate succession, Kevan Parekh, Apple’s Vice President of Monetary Making plans and Research, will transform Leader Monetary Officer and sign up for the chief group.
“Luca has been an unusual spouse in managing Apple for the long run. He has been instrumental in bettering and using the corporate’s monetary efficiency, enticing with shareholders, and instilling monetary self-discipline throughout each a part of Apple. We’re lucky that we can proceed to get pleasure from the management and perception which were the hallmark of his tenure on the corporate,” mentioned 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 inside and outside. His sharp mind, smart judgment, and monetary brilliance make him the very best option to be Apple’s subsequent CFO.”
Throughout his time as CFO, Maestri enabled very important investments and practiced tough monetary self-discipline, which in combination helped the corporate greater than double its earnings, with services and products earnings rising greater than 5 occasions.
“It’s the biggest privilege of my skilled lifestyles to serve the arena’s maximum leading edge and admired corporate, and to paintings facet by way of facet with a pace-setter as inspirational as Tim Cook dinner,” mentioned Maestri. “I’m taking a look ahead to the following degree of my time at Apple, and I’ve monumental self belief in Kevan as he prepares to take the reins as CFO. He’s in point of fact remarkable, has a deep love for Apple and its undertaking, and he embodies the management, judgment, and values which might be so vital to this position.”
Parekh has been at Apple for 11 years and recently leads Monetary Making plans and Research, G&A and Advantages Finance, Investor Family members, and Marketplace Analysis. Previous to this position, Parekh led International Gross sales, Retail, and Advertising Finance. He started his tenure main the monetary toughen of Apple’s Product Advertising, Web Gross sales and Services and products, and Engineering groups.
Ahead of becoming a member of Apple, Parekh held quite a lot of senior management roles at Thomson Reuters and Common Motors, the place he additionally had in depth international enjoy. 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 non-public era with the advent of the Macintosh in 1984. As of late, Apple leads the arena in innovation with iPhone, iPad, Mac, AirPods, Apple Watch, and Apple Imaginative and prescient Professional. Apple’s six device platforms — iOS, iPadOS, macOS, watchOS, visionOS, and tvOS — supply seamless stories throughout all Apple units and empower other people with step forward services and products together with the App Retailer, Apple Tune, Apple Pay, iCloud, and Apple TV+. Apple’s greater than 150,000 workers are devoted to creating the most efficient merchandise on earth and to leaving the arena higher than we discovered it.
Press Touch
Josh Rosenstock
Apple
jrosenstock@apple.com
(408) 862-1142
Investor Family members Touch
Suhasini Chandramouli
Apple
suhasini@apple.com
(408) 974-3123
© 2024 Apple Inc. All rights reserved. Apple and the Apple brand are emblems of Apple. Different corporate and product names is also emblems in their respective homeowners.
