Apple announced last year that the company’s CFO Luca Maestri would move to a new role in 2025. As promised, the company has now issued a report to investors making Maestri’s transition from CFO official.
Luca Maestri steps down as Apple’s CFO
The company published a Form 8-K on Friday, which is used to notify investors in the United States about events that may be important to shareholders, confirming the change in the change of CFO.
“As part of Apple Inc.’s (“Apple’s”) previously announced Chief Financial Officer transition plan, Apple’s Board of Directors appointed Kevan Parekh, 53, as Apple’s Senior Vice President, Chief Financial Officer, effective January 1, 2025. Mr. Parekh succeeds Luca Maestri in the role of CFO,” the document reads.
Luca Maestri was appointed Apple’s CFO in 2014 and has overseen a period of enormous growth for the company. Apple’s new CFO is Kevin Parekh, who has been with the company for 11 years and currently leads Financial Planning and Analysis, G&A and Benefits Finance, Investor Relations, and Market Research.
“Mr. Parekh joined Apple in June 2013 and assumed his current position in January 2025. Mr. Parekh’s previous positions at Apple include Vice President, Financial Planning and Analysis and Vice President, Finance for Sales, Marketing, and Retail. Prior to joining Apple, Mr. Parekh held various senior leadership roles at Thomson Reuters and General Motors,” the company adds.
According to Apple, Parekh’s salary has been increased to $1 million since January 1, 2025, and he’s now eligible to participate in the Apple Inc. Executive Cash Incentive Plan for fiscal year 2025.
In October, Apple CEO Tim Cook honored Maestri during his last call with investors as Apple’s CFO. Cook said he was “deeply grateful” for Maestri’s “exceptional work in shaping Apple as we know it today.” In response, Luca Maestri thanked Cook for his “very kind words” and said that serving as Apple’s CFO was a “real privilege and an amazing journey.”
I’ve greatly appreciated the support from our investors and the analyst community over the years. Kevin is exceptional and I know you will enjoy interacting with him going forward.
Maestri will continue to lead the Corporate Services teams, including information systems and technology, information security, and real estate and development
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