Apple has announced that its Chief Financial Officer is stepping down from his position starting next year, as the company has deemed him fit for another role. As mentioned, Luca Maestri is not leaving the company for good but will be transitioning from his CFO role and will lead the Corporate Services team, which includes information systems and technology, information security, and real estate.
Apple CFO Luca Maestri is stepping down from his role and transitioning to Corporate Services teams
Luca Maestri will be reporting directly to Tim Cook, and if you are wondering, the CFO position will be filled by the company's Vice President of Financial Planning and Analysis, Kevan Parekh, who will join Apple's executive team. Upon Maestri's transition, company CEO Tim Cook stated that he had played an "instrumental" part in improving the company'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.
On the flip side, Maestri's replacement, Parekh, has been with the company for the past decade and is an "indispensable" member of the company's finance team. Tim also states that Parekh understands the company internally, which would play a crucial role in the tasks assigned to the personnel. Over the last ten years, Luca Maestri has been serving Apple as its CFO, joining the position in May of 2014.
At this point, there is no point in why the company decided to put Luca Maestri down from his position as the company's CFO. However, he stated that he was looking forward to the role.
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.
Parekh has been an integral part of Apple, working with Apple's financial planning and analysis, market research, relations with investors, and much more. He has previously worked at Thompson Reuters and General Motors, which states that his prior experience is ample to continue with Apple as its CFO. The transition would come into effect on January 1, 2025, and until then, Luca Maestri would continue to serve Apple in his existing role.
About the author: Ali Salman is a technology reporter for Wccftech mobile section with a specialized focus on Apple and the intellectual property that drives mobile innovation. He has cultivated a unique expertise in analyzing and deconstructing complex technology patents, translating dense legal and technical documents into clear, insightful reports on future products.
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