Kevan Parekh has been appointed Apple’s new Chief Financial Officer (CFO), effective January 1, 2025, succeeding Luca Maestri.
Maestri will continue to oversee the Corporate Service teams, which include information systems and technology, information security, and real estate and development.
Highlights
- Kevan Parekh’s estimated net worth is $15 million, reflecting his successful career, including his roles at Apple, Thomson Reuters, and General Motors.
- Kevan Parekh has been named Apple’s new Chief Financial Officer (CFO), succeeding Luca Maestri, starting January 1, 2025.
- As CFO, his salary at Apple is anticipated to increase to $1-$2 million annually, along with bonuses and stock grants.
Apple CEO Tim Cook praised Indian-origin Kevan Parekh, stating,
Kevan has been a crucial Apple’s finance leadership member for over a decade. He has an in-depth understanding of our company, and his sharp intellect, sound judgment, and financial expertise make him the ideal candidate for the role of CFO.
Tim Cook
Luca Maestri also expressed confidence in Parekh’s abilities as he prepares to transition into his new role. Maestri noted,
I’m excited about the next chapter at Apple and have full confidence in Kevan as he steps into the CFO role. His passion for Apple and its mission, coupled with his leadership and values, will serve the company well.
Luca Maestri
Kevan Parekh’s Net Worth: An Estimated $15 Million Reflecting A Decade Of Financial Leadership!
53 years old Kevan Parekh has built a distinguished career over more than a decade with Apple.
Parekh oversees several critical areas in his current role, including Financial Planning and Analysis, General & Administrative (G&A) and Benefits Finance, Investor Relations, and Market Research.
Before this, he served as Vice President of Financial Planning and Analysis, responsible for Worldwide Sales, Retail, and Marketing Finance.
Moreover, before joining Apple, Parekh gained valuable experience in senior leadership roles at Thomson Reuters and General Motors.
He was Vice President of Finance and Corporate Treasurer at Thomson Reuters for four years.
Meanwhile, he held various roles at General Motors, including Director of Business Development and Regional Treasurer at multiple offices.
Considering his extensive career and the compensation trends for executives, Parekh’s estimated net worth reflects his significant achievements.
During his 11 years at Apple, his salary likely ranged from $250,000 to $500,000 annually, supplemented by bonuses and stock options.
As he steps into the role of CFO in January 2025, his base salary is expected to rise to between $1 million and $2 million per year, with additional financial benefits from bonuses and stock grants.
Considering his previous high-level positions and accumulated earnings, Kevan Parekh’s estimated net worth is approximately $15 million.
Moreover, this sum represents his financial success through his career roles, stock options, and other investments.
Additional Information
- Parekh earned his Bachelor of Science in Electrical Engineering from the University of Michigan and his MBA from the University of Chicago Booth School of Business.
- Bloomberg also reported that Parekh had been receiving training from Apple’s current CFO, Luca Maestri, in preparation for his upcoming role.
- Apple announced Parekh as the CFO just before the company’s fall event in California on September 9, where they are anticipated to unveil their new iPhone series.
