Apple Chief Financial Officer Luca Maestri will step down from his role on January 1, 2025, the Cupertino company announced today. Maestri will continue to be employed by the company and will lead the Corporate Services teams, which include information systems and technology, information security, and real estate and development. Maestri will continue to report to Apple CEO Tim Cook.
Apple Vice President of Financial Planning and Analysis Kevan Parekh will take over the Chief Financial Officer position, joining Apple’s executive team.
Apple CEO Tim Cook said in a press release statement that Maestri has been an “instrumental” part of improving Apple’s financial performance.
Luca has been an extraordinary partner in managing Apple for the long term. He has been instrumental in improving and driving the company’s financial performance, engaging with shareholders, and instilling financial discipline across every part of Apple. We’re fortunate that we will continue to benefit from the leadership and insight that have been the hallmark of his tenure at the company.
Maestri has been Apple’s CEO for over a decade, taking on the role in May 2014. Neither Apple nor Maestri have provided a reason why he is making the transition, although he says he is looking forward to his next position at the company.
It is the greatest privilege of my professional life to serve the world’s most innovative and admired company, and to work side by side with a leader as inspirational as Tim Cook. I’m looking forward to the next stage of my time at Apple, 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.
Cook also commented that Parekh has been an “indispensable” member of Apple’s finance team for the last 10 years, who “understands the company inside and out.”
Parekh has been at Apple for 11 years and leads Apple’s financial planning and analysis, investor relations, market research, and G&A and benefits finance teams. Prior to his time at Apple, he worked at Thomson Reuters and General Motors. He will take over for Maestri on January 1, 2025.