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August 26, 2024
PRESS RELEASE
Apple broadcasts Chief Monetary Officer transition
CUPERTINO, CALIFORNIA Apple immediately introduced that Chief Monetary Officer Luca Maestri will transition from his position on January 1, 2025. Maestri will proceed to guide the Company Companies groups, together with data techniques and expertise, data safety, and actual property and improvement, reporting to Apple CEO Tim Cook dinner. As a part of a deliberate succession, Kevan Parekh, Apple’s Vice President of Monetary Planning and Evaluation, will change into Chief Monetary Officer and be part of the chief workforce.
“Luca has been a rare companion in managing Apple for the long run. He has been instrumental in bettering and driving the corporate’s monetary efficiency, participating with shareholders, and instilling monetary self-discipline throughout each a part of Apple. We’re lucky that we are going to proceed to profit from the management and perception which have been the hallmark of his tenure on the firm,” mentioned Tim Cook dinner, Apple’s CEO.
“For greater than a decade, Kevan has been an indispensable member of Apple’s finance management workforce, and he understands the corporate in and out. His sharp mind, clever judgment, and monetary brilliance make him the right option to be Apple’s subsequent CFO.”
Throughout his time as CFO, Maestri enabled important investments and practiced strong monetary self-discipline, which collectively helped the corporate greater than double its income, with companies income rising greater than 5 instances.
“It’s the biggest privilege of my skilled life to serve the world’s most revolutionary and admired firm, and to work aspect by aspect with a pacesetter as inspirational as Tim Cook dinner,” mentioned Maestri. “I’m trying ahead to the subsequent stage of my time at Apple, and I’ve huge confidence in Kevan as he prepares to take the reins as CFO. He’s actually distinctive, has a deep love for Apple and its mission, and he embodies the management, judgment, and values which can be so vital to this position.”
Parekh has been at Apple for 11 years and at the moment leads Monetary Planning and Evaluation, G&A and Advantages Finance, Investor Relations, and Market Analysis. Previous to this position, Parekh led Worldwide Gross sales, Retail, and Advertising and marketing Finance. He started his tenure main the monetary assist of Apple’s Product Advertising and marketing, Web Gross sales and Companies, and Engineering groups.
Earlier than becoming a member of Apple, Parekh held varied senior management roles at Thomson Reuters and Basic Motors, the place he additionally had intensive world expertise. Parekh is {an electrical} engineer with a Bachelor’s of Science from the College of Michigan and an MBA from the College of Chicago.
About Apple
Apple revolutionized private expertise with the introduction of the Macintosh in 1984. At the moment, Apple leads the world in innovation with iPhone, iPad, Mac, AirPods, Apple Watch, and Apple Imaginative and prescient Professional. Apple’s six software program platforms — iOS, iPadOS, macOS, watchOS, visionOS, and tvOS — present seamless experiences throughout all Apple units and empower individuals with breakthrough companies together with the App Retailer, Apple Music, Apple Pay, iCloud, and Apple TV+. Apple’s greater than 150,000 workers are devoted to creating one of the best merchandise on earth and to leaving the world higher than we discovered it.
Press Contact
Josh Rosenstock
Apple
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Suhasini Chandramouli
Apple
(408) 974-3123
© 2024 Apple Inc. All rights reserved. Apple and the Apple emblem are logos of Apple. Different firm and product names could also be logos of their respective house owners.
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