Apple names Indian-origin Kevan Parekh as new CFO

New Delhi: iPhone maker Apple has named Kevan Parekh as its new chief financial officer in a move that adds to the growing roster of Indian-origin executives at C-suites of global firms.

Parekh, 52, will take over the baton from Apple veteran Luca Maestri, who will transition from his role on January 1, 2025.

Maestri will continue to lead the Corporate Services teams, including information systems and technology, information security, and real estate and development, reporting to Apple CEO Tim Cook.

"As part of a planned succession, Kevan Parekh, Apple’s Vice President of Financial Planning and Analysis, will become Chief Financial Officer and join the executive team," the Cupertino, California, headquartered Apple said in a statement.

Apple CEO Tim Cook said Parekh's sharp intellect, wise judgment, and financial brilliance make him the perfect choice to be Apple’s next CFO.

"For more than a decade, Kevan has been an indispensable member of Apple's finance leadership team, and he understands the company inside and out," Cook said.

Parekh has been at Apple for 11 years and currently leads Financial Planning and Analysis, G&A and Benefits Finance, Investor Relations, and Market Research.

Prior to this role, Parekh led Worldwide Sales, Retail, and Marketing Finance.

He began his tenure by leading the financial support of Apple’s Product Marketing, Internet Sales and Services, and Engineering teams.

Before joining Apple, Parekh held various senior leadership roles at Thomson Reuters and General Motors, where he also had extensive global experience.

Parekh is an electrical engineer with a Bachelor of Science from the University of Michigan and an MBA from the University of Chicago.

Maestri said he is looking forward to the next stage of his time at Apple, and expressed confidence over Parekh's transition to the CFO role.

"...and I have enormous confidence in Kevan as he prepares to take the reins as CFO. He is truly exceptional, has a deep love for Apple and its mission, and he embodies the leadership, judgment, and values that are so important to this role," Maestri said.

Reports suggest that over the past months, Parekh has been prepared for the CFO role by Maestri.

Over the past years, many Indian-origin executives have been named to the C-Suite positions of global companies - the ever-expanding list includes Microsoft Chief Satya Nadella; Alphabet CEO Sundar Pichai; Adobe CEO Shantanu Narayen; Tesla chief financial officer Vaibhav Taneja, among others.