Apple CFO Transition: Insights into the Market Trends - Business

Apple announce a change in its Chief Financial Officer , with Luca Maestri being replace by Kevan Parekh on Jan. 1 . Maestri will continue to lead team focus on IT , security , and real_number estate development within the company . Parekh , the entrance CFO , had previously serve as the company 's frailty president of fiscal planning and analysis , being describe as an indispensable member of Apple 's finance leadership team.

"For More than a decade , Kevan has been an indispensable member of Apple 's finance leadership team , and he understand the company inside and out . His sharp mind , wise judgment , and fiscal glare brand him the perfective choice to be Apple 's following CFO,"

state Apple CEO Tim Cook in a statement . Maestri , who had been Apple 's CFO since 2014 , oversee significant growth at the company , with annual gross_sales and internet income more than doubling during his tenure.

Under Maestri 's leadership , Apple 's annual gross_sales turn from about 83 billion in 2014 to 83 billion stopping_point year , marker a significant addition in gross . Additionally , Maestri was instrumental in oversee Apple 's record - breakage capital tax_return plan and regularly look alongside CEO Tim Cook on quarterly net_income call . Prior to joining Apple , Maestri have a successful career at General Motors , Nokia Siemens , and Xerox.

Parekh , the new CFO , join Apple in 2013 and have previous experience at Thomson Reuters and General Motors . His promotion to chief_financial_officer semen at a time when Apple continue to see growth and expansion in assorted area . This change in leadership at Apple 's finance department align with a wide tendency in Silicon Valley , as other technical_school giant like Alphabet and Meta have also recently make significant chief_financial_officer announcements.

In July 2023 , Ruth Porat announce her departure as CFO of Alphabet , with Anat Ashkenazi pickings over the function . Similarly , Meta appoint Susan Li as CFO , replacement David Wehner . These motion bespeak a time_period of change and passage within the finance sector of major technical_school company , reflect the moral_force nature of the industry as a whole.