After more than ten years with Apple Inc., Kevan Parekh, an Indian national, succeeded Luca Maestri as CFO on January 1, 2025. He was previously Vice President of Financial Planning and Analysis, and his new position is estimated to pay eight figures.
On January 1, 2025, Indian-born Kevan Parekh was appointed Chief Financial Officer of Apple Inc. After working with the iPhone manufacturer for over 11 years, the first-generation Indian American succeeded Luca Maestri.Previously serving as the Vice President of Financial Planning and Analysis at Apple Inc., Parekh has held a number of important roles, including managing market research, investor communications, and financial planning. He is expected to receive an eight-figure salary (in rupees) for his new position, according to sources.
How much will Kevan Parekh, CFO of Apple Inc., make?
As the CFO of Apple Inc., Kevan Parekh is expected to make $1 million (about ₹8.57 crore) a year. In August of last year, Kevan Parekh's nomination was confirmed.
In a form provided to the US Securities and Exchange Commission, Apple Inc. stated that Mr. Parekh's annual compensation had been raised to $1 million, effective January 1, 2025. He is also eligible to participate in the Apple Inc. Executive Cash Incentive Plan for fiscal year 2025 on the same terms as the company's other named executive officers, with a target opportunity of 175% of base salary based on his time in his respective roles for fiscal year 2025.
"Kevan has been a vital part of Apple's finance leadership team and is well-versed in the business. He is the ideal candidate to be Apple's next CFO due to his keen intelligence, sound judgment, and financial acumen," Apple CEO Tim Cook stated in a corporate release.
In 2013, Kevan Parekh began working for Apple.
Kevan Parekh joined Apple Inc. in 2013 and was instrumental in developing the company's commercial and financial strategy as well as its products.
Parekh has been the vice president of worldwide finance assistance at Apple Inc. in addition to his position as vice president of financial planning and analysis. During his employment, Parekh was able to supervise a variety of departments, including engineering, sales, marketing, retail, and iTunes.
The education and career of Kevan Parekh
Kevan Parekh has also worked at General Motors and Thomson Reuters, with a primary focus on areas in Asia and Europe. He continued his studies at Chicago and Michigan. Kevan Parekh obtained an MBA from the University of Chicago after graduating from the University of Michigan with a Bachelor of Science in Electrical Engineering. He has led international finance teams at large corporations for more than 20 years.
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