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Apple (AAPL) CFO Luca Maestri to be replaced by insider Kevan Parekh on January 1

After 10 years in the position, Luca Maestri will be stepping down as CFO but will continue his other duties.

August 26, 2024 7:30 PM

Apple will be undergoing a slight structural change at the beginning of next year. Luca Maestri has been the Apple CFO for several years now, but that is going to be changing on January 1 when he transitions from his role and will be replaced by Kevin Parekh.

On August 26, 2024, Apple announced that the company’s current Chief Financial Officer Luca Maestri will transition out of his current role on January 1, 2025. Replacing him will be Kevan Parekh, Apple’s Vice President of Financial Planning and Analysis, who will also be joining the executive team.

The official statement says that Maestri will continue to lead the Corporate Services teams which include IT, security, real estate and development. Part of this will see him report to Apple CEO Tim Cook.

“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,” Tim Cook said in the statement. “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.”

This announcement comes just ahead of Apple’s upcoming event that’s slated for September 9, 2024. This Glowtime event is where it is expected Apple will reveal the iPhone 16 along with a new line of AirPods and Apple Watches.

The company had previously reported on its Q3 2024 earnings, which saw iPhone sales fall 1 percent from the previous year. Additionally, Warren Buffett’s Berkshire Hathaway cut its Apple holdings in half during the second quarter of 2024. Be sure to check out our Apple and AAPL pages for more information on how the company has been performing and what it’s got planned next.

Sam Chandler

Guides Editor

Hailing from the land down under, Sam Chandler brings a bit of the southern hemisphere flair to his work. After bouncing round a few universities, securing a bachelor degree, and entering the video game industry, he's found his new family here at Shacknews as a Guides Editor. There's nothing he loves more than crafting a guide that will help someone. If you need help with a guide, or notice something not quite right, you can message him on X: @SamuelChandler

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