 of Apple Inc., marking a pivotal moment in both his career and the tech giant’s leadership journey. Effective Wednesday (1), Parekh succeeds Luca Maestri, who held the position for nearly 11 years. A first-generation Indian-American, Parekh has been an integral part of Apple for over a decade, contributing significantly to the company’s financial and business strategies. Parekh joined Apple in 2013 and quickly ascended the ranks through his expertise and strategic insights. Before being named CFO, he served as Vice President of Financial Planning and Analysis, where he played a key role in shaping the company’s long-term financial strategies and operational excellence. In his decade-long tenure, Parekh held multiple critical roles, including Vice President of Worldwide Finance Support. In this capacity, he managed financial functions across Apple’s core divisions, including Engineering, Marketing, Retail, Sales, and iTunes. Apple CEO Tim Cook acknowledged Parekh’s exceptional contributions, stating, “Kevan has been an essential part of Apple’s finance team and deeply understands the company. His sharp intellect and financial expertise make him the ideal choice for this role.” As Apple’s new CFO, Parekh will receive an annual salary of $1 million along with participation in Apple’s Executive Cash Incentive Plan for fiscal year 2025. According to Apple’s filing with the United States Securities and Exchange Commission (SEC), Parekh’s incentive package offers a target opportunity of 175 per cent of his base salary, tied to his performance during the fiscal year. His role as CFO places him at the helm of financial operations for the world’s most valuable technology company, ensuring Apple remains a global leader in innovation, sustainability, and profitability. Parekh holds a Bachelor of Science in Electrical Engineering from the University of Michigan and an MBA from the University of Chicago. Before joining Apple, he gained extensive experience working with Thomson Reuters and General Motors, where he managed financial operations across Europe and Asia. These roles provided Parekh with a deep understanding of global markets and financial systems, preparing him for leadership at one of the world’s most iconic companies. Kevan Parekh’s appointment as CFO underscores Apple’s commitment to fostering diversity and recognizing talent within its ranks. As a member of the executive leadership team, Parekh is poised to play a crucial role in navigating Apple’s financial landscape, ensuring its continued growth and resilience in an ever-evolving tech industry. For More Interesting News Follow Us on Instagram){kind=link}
Indian-origin government Kevan Parekh has been appointed Chief Monetary Officer (CFO) of Apple Inc., marking a pivotal second in each his profession and the tech large’s management journey.
Efficient Wednesday (1), Parekh succeeds Luca Maestri, who held the place for practically 11 years. A primary-generation Indian-American, Parekh has been an integral a part of Apple for over a decade, contributing considerably to the corporate’s monetary and enterprise methods.
Parekh joined Apple in 2013 and rapidly ascended the ranks by way of his experience and strategic insights. Earlier than being named CFO, he served as Vice President of Monetary Planning and Evaluation, the place he performed a key function in shaping the corporate’s long-term monetary methods and operational excellence.
In his decade-long tenure, Parekh held a number of crucial roles, together with Vice President of Worldwide Finance Assist. On this capability, he managed monetary capabilities throughout Apple’s core divisions, together with Engineering, Advertising and marketing, Retail, Gross sales, and iTunes.
Apple CEO Tim Cook dinner acknowledged Parekh’s distinctive contributions, stating, “Kevan has been a vital a part of Apple’s finance staff and deeply understands the corporate. His sharp mind and monetary experience make him the perfect alternative for this function.”
As Apple’s new CFO, Parekh will obtain an annual wage of $1 million together with participation in Apple’s Government Money Incentive Plan for fiscal yr 2025. In line with Apple’s submitting with the US Securities and Alternate Fee (SEC), Parekh’s incentive package deal provides a goal alternative of 175 per cent of his base wage, tied to his efficiency through the fiscal yr.
His function as CFO locations him on the helm of economic operations for the world’s most precious know-how firm, guaranteeing Apple stays a worldwide chief in innovation, sustainability, and profitability.
Parekh holds a Bachelor of Science in Electrical Engineering from the College of Michigan and an MBA from the College of Chicago. Earlier than becoming a member of Apple, he gained in depth expertise working with Thomson Reuters and Basic Motors, the place he managed monetary operations throughout Europe and Asia.
These roles offered Parekh with a deep understanding of world markets and monetary methods, making ready him for management at one of many world’s most iconic corporations.
Kevan Parekh’s appointment as CFO underscores Apple’s dedication to fostering range and recognizing expertise inside its ranks.
As a member of the manager management staff, Parekh is poised to play a vital function in navigating Apple’s monetary panorama, guaranteeing its continued development and resilience in an ever-evolving tech trade.
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