Apple CFO Luca Maestri Transitioning to New Role Within the Company, Reporting to Tim Cook on Corporate Services

Apple has officially announced that its Chief Financial Officer, Luca Maestri, will be stepping down from his current role starting next year. However, Maestri is not leaving the company; instead, he will transition to lead Apple’s Corporate Services team, which includes overseeing information systems and technology, information security, and real estate.

Luca Maestri Steps Down from CFO Role to Lead Corporate Services at Apple

Luca Maestri will continue to report directly to CEO Tim Cook. The CFO position will be taken over by Kevan Parekh, Apple’s Vice President of Financial Planning and Analysis, who will now join the executive team. Tim Cook acknowledged Maestri’s significant contribution to Apple’s financial success, calling his role “instrumental.”

Parekh, who has been with Apple for the past decade, is described as an “indispensable” member of the finance team. His deep understanding of the company’s operations positions him well for the CFO role. Luca Maestri has served as Apple’s CFO since May 2024, contributing significantly to the company’s growth.

The reason behind Maestri’s transition has not been fully disclosed, but he expressed his enthusiasm for the new role. Parekh, with his extensive experience in financial planning, market research, and investor relations at Apple, as well as his previous roles at Thomson Reuters and General Motors, is well-prepared to succeed Maestri as CFO. The transition is scheduled to take effect on January 1, 2025, and until then, Maestri will continue in his current role.