PIO Kevan Parekh to be Apple’s CFO from Jan 1 – Times of India

BENGALURU: Apple has named Indian-origin executive Kevan Parekh as chief financial officer as part of a planned succession plan. He succeeds Luca Maestri, who will transition from his role effective January 1, next year.
Parekh, who is currently VP (financial planning and analysis), will become CFO & join the executive team, Apple said. Parekh has emerged as the latest addition to the growing roster of Indian-origin CFOs who are making their mark in global corporations.Tesla’s Vaibhav Taneja and Palo Alto Networks’ Dipak Golechha are among a growing tribe of such professionals who are in taking the top finance roles in big firms.
Parekh joined Apple 11 yrs ago
Tesla’s Vaibhav Taneja and Palo Alto Networks’ Dipak Golechha are among a growing tribe of such professionals who are increasingly taking the top finance roles in global companies. Several Indian-origin CEOs are at the helm of big tech companies, a list that has grown over the years.
Kevan Parekh, who has been with Apple for 11 years, currently oversees financial planning and analysis, benefits finance, investor relations and market research. Previously, he managed the financial support for worldwide sales, retail and marketing finance, as well as product marketing, internet sales and services and engineering teams. He will join the company’s executive leadership team and report directly to CEO Tim Cook.

“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. His sharp intellect, wise judgment, and financial brilliance make him the perfect choice to be Apple’s next CFO,” Cook said in a statement.
Prior to his career at Apple, Parekh held various senior leadership positions at Thomson Reuters and General Motors. An alumnus of the University of Michigan and an MBA from the University of Chicago, Parekh has a strong educational background.
A Bloomberg report said Maestri has been grooming Parekh for the CFO role for several months. “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 over 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,” Maestri said.
The rise of Indian-origin leaders within Apple’s ecosystem has been significant. With India becoming a bright spot for Apple, the C-suite presence of leaders of Indian descent has added more firepower to its leadership. A recent Bloomberg report said that Apple COO Jeff Williams’ deputy, Sabih Khan, is likely going to replace him. Khan, a 24-year Apple veteran, was named to the company’s executive team as senior vice-president of operations in 2019.
The report also said that if Khan is promoted, “Priya Balasubramaniam is a near-lock to be Apple’s next senior vice-president of operations — and probably, one day, a future Apple COO”. A 23-year Apple veteran, Balasubramaniam has risen through the ranks to become vice president of operations in 2014.