New Chapter at Apple: A Farewell to Luca Maestri as CFO

Key Points:

• Luca Maestri is stepping down as Apple’s CFO, a role he held since 2014, to focus on leading Corporate Services teams.
• Kevan Parekh, currently VP of Financial Planning and Analysis, will take over as Apple’s Senior Vice President and CFO, effective January 1, 2025.
• Maestri’s departure marks the end of an era, with the company acknowledging his instrumental role in shaping Apple’s growth and success.

As reported earlier, Apple’s Chief Financial Officer (CFO) Luca Maestri has officially stepped down from his role, paving the way for Kevan Parekh to take the reins. The news comes after Maestri’s 11-year tenure, which has seen the company undergo tremendous growth and transformation.

Maestri’s departure is a significant milestone, as he played a crucial role in shaping Apple’s financial trajectory. During his time as CFO, the company’s market value has more than tripled, and he was instrumental in guiding Apple’s strategic decisions. Apple’s CEO Tim Cook praised Maestri, calling him "deeply grateful" for his exceptional work and dedication.

Parekh, on the other hand, has been with Apple for 11 years, holding various leadership positions, including Vice President, Financial Planning and Analysis, and Vice President, Finance for Sales, Marketing, and Retail. His new role comes with a salary increase to $1 million, starting January 2025, and eligibility to participate in the Apple Inc. Executive Cash Incentive Plan for fiscal year 2025.

While Maestri is leaving the CFO position, he will continue to lead the Corporate Services teams, including information systems, technology, information security, and real estate development. This transition is seen as a natural progression, allowing him to focus on his next chapter at Apple.

As we bid farewell to Maestri’s tenure as CFO, we can’t help but look forward to what the future holds for Apple under Parekh’s leadership. This change marks an opportunity for the company to adapt and evolve, building on the foundation laid by Maestri. As a community, we can expect continued innovation and growth from Apple, fueled by Parekh’s expertise and vision.

Tips and Takeaways:

• Keep an eye on how Parekh’s leadership approach shapes Apple’s financial decisions and innovation strategy.
• Follow Maestri’s next moves, as his experience and insights will likely be in high demand in the tech industry.
• Explore the potential implications of this change on Apple’s product roadmap and future releases.

As we navigate the ever-changing world of technology, it’s essential to stay informed about the latest updates and developments. Be sure to bookmark our page for more news, insights, and analysis on the tech industry, including Apple’s latest moves.

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