Apple has disclosed today that its long-serving Chief Financial Officer, Luca Maestri, is set to relinquish his executive duties, starting January 1. Succeeding him, Kevan Parekh, who has spent over a decade as Apple’s VP of Financial Planning, will be taking the reins as CFO.
Since assuming the role of CFO in 2014, Maestri has played a pivotal role at Apple and is now gearing up for a new challenge within the company, reporting directly to CEO Tim Cook. Cook has expressed that Maestri will maintain leadership over the corporate services team, overseeing critical areas such as information security and real estate.
While Apple has not specified the motives behind this strategic move, it has been described as “part of a planned succession.”