Apple Announces CFO Succession: Luca Maestri to Step Down, Kevan Parekh to Take Helm in 2025

Apple has revealed plans for a leadership change in its finance department. Current Chief Financial Officer Luca Maestri will step down from his role on January 1, 2025, to be succeeded by Kevan Parekh, the company’s Vice President of Financial Planning and Analysis.

Maestri, who has been instrumental in Apple’s financial growth over the past decade, will not be leaving the company entirely. He will continue to oversee Corporate Services teams, including information systems, security, and real estate, reporting directly to CEO Tim Cook.

During Maestri’s tenure as CFO, Apple saw its revenue more than double, with services revenue experiencing a five-fold increase. The company credits him with improving financial performance, shareholder engagement, and instilling financial discipline across the organization.

Parekh, an 11-year Apple veteran, currently leads Financial Planning and Analysis, G&A and Benefits Finance, Investor Relations, and Market Research. His previous roles at Apple included leadership positions in Worldwide Sales, Retail, and Marketing Finance. Before joining Apple, Parekh held senior positions at Thomson Reuters and General Motors.

The transition appears to be part of a planned succession strategy. Both Cook and Maestri expressed confidence in Parekh’s abilities to take on the CFO role. Parekh brings a background in electrical engineering and business administration to the position.

This change marks a significant shift in Apple’s top-level financial leadership as the company continues to navigate the competitive tech landscape.