Apple Inc. has announced that Kevin Parekh, an Indian-origin executive, will be the new Chief Financial Officer (CFO), starting January 1, 2025. His yearly salary will be $1 million (about Rs 8.57 crore). In addition to his salary, he can also earn bonuses from Apple’s Executive Cash Incentive Plan for the 2025 fiscal year.
Kevin’s Journey at Apple
Kevin joined Apple in June 2013 and has worked in important jobs, like Vice President of Financial Planning and Analysis, and Vice President of Finance for Sales, Marketing, and Retail. His hard work in these roles made him a great fit for the CFO position.
Previous Work Experience
Before working at Apple, Kevin held senior jobs at Thomson Reuters and General Motors. There, he learned a lot about managing finances and making corporate strategies.
Transition of CFO Role
Kevin will take over the role from Luca Maestri, who has been CFO since 2014. Aim of the switch is to allow Maestri to lead Apple’s Corporate Services teams. This includes overseeing areas like information systems, technology, cybersecurity, and real estate.
Apple’s Board of Directors announced Kevin’s new position in a filing with the U.S. Securities and Exchange Commission (SEC) on Friday.
A New Chapter for Apple’s Finances
With Kevin stepping in as CFO, Apple looks forward to continuing its strong financial plans. Maestri’s new job will also help Apple improve its operations and technology.
This news is a big step for Kevin, as he joins other Indian-origin leaders in top roles at big global tech companies.
Kevin Parekh Appointed as New Apple CFO Starting January 1, 2025!
Kevin Parekh appointed CFO of Apple Inc., starting January 1, 2025. Discover his journey and what this means for Apple’s financial future.
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