Apple CFO Luca Maestri Stepping Down

Apple’s Chief Monetary Officer Luca Maestri is stepping down from his position on January 1, 2025, Apple introduced as we speak. Maestri will not be leaving the corporate and can lead the Company Companies groups, together with data programs and know-how, data safety, and actual property and improvement, the place he’ll proceed to report back to Apple CEO Tim Prepare dinner.

Apple Vice President of Monetary Planning and Evaluation Kevan Parekh will take over as Chief Monetary Officer, becoming a member of Apple’s govt group. In an announcement, Apple CEO ‌Tim Prepare dinner‌ stated that Maestri has been an “instrumental” a part of enhancing Apple’s monetary efficiency.

Luca has been a unprecedented accomplice in managing Apple for the long run. He has been instrumental in enhancing and driving the corporate’s monetary efficiency, partaking with shareholders, and instilling monetary self-discipline throughout each a part of Apple. We’re lucky that we’ll proceed to profit from the management and perception which were the hallmark of his tenure on the firm.

Prepare dinner additionally stated that Parekh has been an “indispensable” member of Apple’s finance group for the final decade, and he “understands the corporate in and out.”

Maestri has been Apple’s CFO for over a decade, taking up the position in Could 2014. There is no such thing as a phrase on why Maestri has determined to step down as CFO, however in an announcement he stated that he’s wanting ahead to his subsequent interval at Apple.

It’s the biggest privilege of my skilled life to serve the world’s most modern and admired firm, and to work facet by facet with a pacesetter as inspirational as Tim Prepare dinner. I’m wanting ahead to the following stage of my time at Apple, and I’ve huge confidence in Kevan as he prepares to take the reins as CFO. He’s really distinctive, has a deep love for Apple and its mission, and he embodies the management, judgment, and values which can be so essential to this position.

Parekh has labored at Apple for 11 years and leads Apple’s monetary planning and evaluation, investor relations, market analysis, and G&A and advantages finance groups. Previous to working at Apple, he labored at Thomson Reuters and Basic Motors. He’ll take over for Maestri on earnings calls and related occasions on January 1, 2025.