Subj : Apple is getting a new CFO  could this bring changes for its futu
To   : All
From : TechnologyDaily
Date : Tue Aug 27 2024 13:30:05

Apple is getting a new CFO  could this bring changes for its future releases?

Date:
Tue, 27 Aug 2024 12:24:22 +0000

Description:
After a decade as CFO, Apples Luca Maestri is to hand the reins to Kevan 
Parekh, who will take over from 2025.

FULL STORY
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Apple has announced its Chief Financial Officer Luca Maestri will step down 
from his role on January 1, 2025. 

Maestri, who has served as Apples CFO since 2014, will not be leaving the 
company, but rather will lead the Corporate Services team, including 
information systems and technology, information security, and real estate and 
development. 

Kevan Parekh, currently serving as Apples VP of Financial Planning and 
Analysis, has been named as Maestris successor. Apples next CFO 

Parekh joined Apple in 2013 and has been a key figure in the companys finance 
leadership. CEO Tim Cook commented: For more than a decade, Kevan has been an 
indispensable member of Apples 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 Apples next CFO. 

Cook described Maestri as an extraordinary partner in managing Apple for the 
long term. Under Maestris leadership, Apple revenue doubled, with services 
revenue increasing fivefold. Apples third-quarter revenue, for the three 
months ending June 29, stood at $85.8 billion. 

It has also regained its position as the worlds most valuable company, with a 
market cap of $3.454 trillion, after being overtaken by Microsoft and Nvidia. 
Apple and Microsoft have long been in a brawl for prime position, with Nvidia 
only recently stepping into the ring. 

Moreover, the announcement comes amid a broader trend of CFO transitions at 
major tech companies  Alphabet and Meta have also recently appointed new 
leaders, potentially indicating a new era across Silicon Valley. 

Apple stock has remained consistent since the announcement, however with the 
upcoming launch of new iPhone models, investors will be watching closely. 
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now Weve rounded up a list of the best small business accounting software Tim 
Cook says half of Fortune 100 companies have bought an Apple Vision Pro



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Link to news story:
https://www.techradar.com/pro/apple-is-getting-a-new-cfo-could-this-bring-chan
ges-for-its-future-releases


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