Apple CFO Luca Maestri Stepping Down

Apple's Chief Financial Officer Luca Maestri is stepping down from his role on January 1, 2025, Apple announced today. Maestri is not leaving the company and will lead the Corporate Services teams, including information systems and technology, information security, and real estate and development, where he will continue to report to Apple CEO Tim Cook.

Apple Vice President of Financial Planning and Analysis Kevan Parekh will take over as Chief Financial Officer, joining Apple's executive team. In a statement, Apple CEO ‌Tim Cook‌ said that Maestri has been an "instrumental" part of improving Apple's financial performance.

Luca has been an extraordinary partner in managing Apple for the long term. He has been instrumental in improving and driving the company’s financial performance, engaging with shareholders, and instilling financial discipline across every part of Apple. We’re fortunate that we will continue to benefit from the leadership and insight that have been the hallmark of his tenure at the company.

Cook also said that Parekh has been an "indispensable" member of Apple's finance team for the last decade, and he "understands the company inside and out."

Maestri has been Apple's CFO for over a decade, taking on the role in May 2014. There is no word on why Maestri has decided to step down as CFO, but in a statement he said that he is looking forward to his next period at Apple.

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. I’m looking forward to the next stage of my time at Apple, and I have enormous confidence in Kevan as he prepares to take the reins as CFO. He is truly exceptional, has a deep love for Apple and its mission, and he embodies the leadership, judgment, and values that are so important to this role.

Parekh has worked at Apple for 11 years and leads Apple's financial planning and analysis, investor relations, market research, and G&A and benefits finance teams. Prior to working at Apple, he worked at Thomson Reuters and General Motors. He will take over for Maestri on earnings calls and similar events on January 1, 2025.