Apple Announces Transition of their Chief Financial Officer

Apple has made an announcement about a change to their Leadership that will be happening at the end of the year. Apple’s current Chief Financial Officer, Luca Maestri, will be stepping down as Chief Financial Officer effective January 1st, 2025. He will remain at the company but in a new role. This new role will be in charge of the Corporate Services teams, which includes information systems and technology, information security, and real estate and development. Maestri will still report to Apple CEO Tim Cook.

Apple's press release has this to say about Luca Maestri:

During his time as CFO, Maestri enabled essential investments and practiced robust financial discipline, which together helped the company more than double its revenue, with services revenue growing more than five times.

The press release by Apple provided a statement from Maestri about this change:

It is the greatest privilege of my professional life to serve the world’s most innovative and admired company, and to work side by side with a leader as inspirational as Tim Cook," said Maestri. "I’m looking forward to the next stage of my time at Apple…

Luca Maestri’s tenure as Apple’s Chief Financial Officer will be just over a decade. Luca Maestri became Apple’s Chief Financial Officer in September of 2014 when the previous Chief Financial Officer, Peter Oppenheimer retired.

Replacing Maestri is Apple’s current Vice President of Financial Planning and Analysis, Kevan Parekh. According to Apple’s press release announcing the transition:

Parekh has been at Apple for 11 years and currently leads Financial Planning and Analysis, G&A and Benefits Finance, Investor Relations, and Market Research. Prior to this role, Parekh led Worldwide Sales, Retail, and Marketing Finance. He began his tenure leading the financial support of Apple’s Product Marketing, Internet Sales and Services, and Engineering teams.

Source: Apple Newsroom