Apple Inc. will have a new Chief Financial Officer (CFO) in January. Currently, the Vice President of Financial Planning and Analysis at Apple, Kevan Parekh will replace Luca Maestri and join the company’s executive team.

Commenting on his appointment, Apple CEO Tim Cook said, “For more than a decade, Kevan has been an indispensable member of Apple’s 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 Apple’s next CFO.”

After spending four years in various roles at Thomson Reuters, Parekh joined Apple in June 2013. Before that, he worked at General Motors for over five years. He holds a Bachelor’s degree in Electrical Engineering from the University of Michigan and an MBA from the University of Chicago.

Parekh’s Role at Apple

Parekh has been with Apple for 11 years. He started his career at Apple by supporting product marketing, internet sales and services, and engineering teams. He then went on to manage worldwide sales, retail, and marketing finance.

As the Vice President of Financial Planning and Analysis, he leads financial planning and analysis, G&A and benefits finance, investor relations, and market research.

Luca Maestri has been mentoring Parekh to prepare him for this role, enabling him to take on significant responsibilities within the company already. He frequently reports directly to Tim Cook on key financial and sales matters and has recently assumed additional duties following the departure of former Apple finance executive Saori Casey.

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More Changes in Apple’s Leadership

Apple’s management team might see further changes soon, with many current executives nearing 60 years of age. India-born Sabih Khan is expected to succeed Jeff Williams as Apple’s Chief Operating Officer, and Priya Balasubramaniam may step into Khan’s role as Senior Vice President of Operations. Additionally, Sri Santhanam is a potential successor to Johny Srouji, who leads Apple’s hardware technologies division.

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