Having Indian-origin executives at C-suites of top global firms is getting to be a routine affair and Apple has added one more to the list, picking Kevan Parekh as its new chief financial officer.
An electrical engineer with a Bachelor of Science degree from the University of Michigan and an MBA from the University of Chicago, Parekh, 52, will take over the baton from Apple veteran Luca Maestri.
Maestri, who will move on from his role on January 1, 2025, will continue to lead the corporate services teams, including information systems and technology, information security, and real estate and development, reporting to Apple CEO Tim Cook.
"As part of a planned succession, Kevan Parekh, Apple’s Vice President of Financial Planning and Analysis, will become Chief Financial Officer and join the executive team," the Cupertino, California, headquartered Apple said in a statement.
Apple CEO Tim Cook said Parekh's sharp intellect, wise judgement, and financial brilliance make him the perfect choice to be Apple’s next CFO.
"For more than a decade, Kevan has been an indispensable member of Apple's finance leadership team, and he understands the company inside and out," Cook said.
Parekh has been at Apple for 11 years and currently leads financial planning and analysis, G&A and benefits finance, investor relations, and market research.
Prior to this role, Parekh led worldwide sales, retail, and marketing finance.
He began his tenure by leading the financial support of Apple’s product marketing, Internet sales and services, and engineering teams.
Before joining Apple, Parekh held various senior leadership roles at Thomson Reuters and General Motors, where he also had extensive global experience.
Maestri said he is looking forward to the next stage of his time at Apple, and expressed confidence over Parekh's transition to the CFO role, reports PTI.
"...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, judgement, and values that are so important to this role," Maestri said.
Reports suggest that over the past months, Parekh has been prepared for the CFO role by Maestri.
The ever-expanding list of top executives in multinational companies now includes Microsoft Chief Satya Nadella; Alphabet CEO Sundar Pichai; Adobe CEO Shantanu Narayen; and Tesla chief financial officer Vaibhav Taneja.
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