Apple: Apple names Indian-origin Kevan Parekh as new finance chief, will take over in January

Tech giant Apple announced the appointment of Kevan Parekh as its Chief Financial Officer. He replaces company veteran Luca Maestri, and will assume his role on January 1, 2025.

Apple has taken this decision just before the launch of its new products this season. According to experts, the biggest software upgrade so far can be done for iPhone this season.

These changes also include the use of artificial intelligence (AI), so it is very important for Apple to overcome the slowdown in global sales (especially). Parekh has been with Apple for more than a decade and will now join the company’s executive committee. He currently serves as Vice President of Financial Planning and Analysis.

Before Apple, Parekh held senior leadership roles at Thomson Reuters and General Motors. Apple said Maestri will continue to lead corporate services teams, including information systems and technology, information security, and real estate and development, and will report to CEO Tim Cook.

During Maestri’s tenure, Apple has more than doubled its revenue, with revenue coming from services increasing more than fivefold. Earlier this month, Apple said its third-quarter iPhone sales were better than expected and the company forecast higher profits as it looks to bet on artificial intelligence to attract buyers.