Indian-origin Apple government Kevan Parekh has been appointed the corporate’s new Chief Monetary Officer, efficient January 1, 2025. Mr Parekh will succeed Luca Maestri, a veteran Apple government, who will guarantee a easy transition to the brand new CFO.
The management change comes as Apple prepares for a big product launch this fall, that includes a significant software program improve for the iPhone, together with synthetic intelligence capabilities.
Who’s Kevan Parekh?
- Kevan Parekh joined Apple 11 years in the past and rapidly established himself as an integral a part of the corporate’s finance management group.
- Mr Parekh has a Bachelor of Science diploma in Electrical Engineering from the College of Michigan (1989-1993) and an MBA from the College of Chicago Sales space College of Enterprise (1997-1999).
- Earlier than becoming a member of Apple, he labored at Thomson Reuters and Common Motors, holding numerous senior management positions, together with Vice President of Finance, Company Treasurer, Director of Enterprise Improvement and Regional Treasurer.
- He joined Apple in 2013 and served as Vice President of Monetary Planning and Evaluation, overseeing vital areas, and led finance for Worldwide Gross sales, Retail, and Advertising on the firm.
- Over the past a number of months, Kevan Parekh has been ready for the Chief Monetary Officer (CFO) function by his senior, Luca Maestri. Mr Parekh will give attention to persevering with Apple’s prudent capital administration and can also discover complimentary acquisitions.
Luca Maestri will proceed to guide company companies groups, reporting to CEO Tim Prepare dinner. Throughout his tenure, Apple greater than doubled its income, with companies income rising greater than 5 instances.
Apple’s iPhone gross sales have slowed in recent times resulting from a scarcity of great upgrades in newer fashions and competitors from Android-based smartphone manufacturers providing high-end specs at decrease costs. Nonetheless, Apple is betting on synthetic intelligence to draw consumers, asserting a slew of AI options beneath the umbrella ‘Apple Intelligence’ at its builders convention in June.
