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Kevan Parekh and the rise of Indian-origin leaders in multinational companies

<ul><li><keyword id="19894961" type="General" weightage="20" keywordseo="apple" source="keywords">Apple</keyword> recently appointed its new CFO</li><li>The company's new CFO is <keyword id="19990665" type="General" weightage="20" keywordseo="Indian-origin" source="keywords">Indian origin</keyword> <keyword id="22930009" type="General" weightage="100" keywordseo="Kevan-Parekh" source="keywords">Kevan Parekh</keyword></li><li>He will assume his new role in 2025</li></ul> Just after confirming the launch date of the iPhone 16, Apple had another announcement in store. The company announced a change in its leadership team and appointed Kevan Parekh as its new <keyword id="19955483" type="General" weightage="20" keywordseo="Chief-Financial-Officer" source="keywords">Chief Financial Officer</keyword>, effective January 1, 2025. Parekh, who has been a vital part of Apple’s finance leadership for over a decade, will succeed <keyword id="20142289" type="General" weightage="20" keywordseo="Luca-Maestri" source="keywords">Luca Maestri</keyword>, a seasoned executive credited with more than doubling Apple’s revenue during his tenure. Read on to know all about the Indian-origin senior Apple executive. <h2>Who is Apple new CFO Kevan Parekh</h2> Parekh has been with Apple for 11 years and is currently leading Financial Planning and Analysis, G&amp;A and Benefits Finance, Investor Relations, and Market Research. Prior to this, he led Worldwide Sales, Retail, and Marketing Finance at Apple. Parekh began his tenure at Apple by leading the financial support of Apple’s Product Marketing, Internet Sales and Services, and Engineering teams. Before joining Apple, Parekh honed his financial expertise at industry giants Thomson Reuters and General Motors. At Thomson Reuters, he climbed the ranks to become Corporate Treasurer, where he was responsible for overseeing the company's global financial operations. His stint at General Motors saw him take on significant roles, including Director of Business Development in New York and Regional Treasurer in Zurich, where he managed financial operations across Europe. Talking about Parekh’s academic background, he holds a Bachelor of Science in Electrical Engineering from the University of Michigan and an MBA from the University of Chicago. As Parekh steps into his new role, Apple is on the brink of launching a series of AI-powered features that could redefine the iPhone experience. <h2>Apple’s press release</h2> In a press release, Apple noted that as Parekh assumes his new role, Luca Maestri will be continuing his journey in the company. Although he will step down as CFO, Maestri will continue to lead Apple’s Corporate Services teams, including information systems and technology, information security, and real estate and development. “During his time as CFO, Maestri enabled essential investments and practiced robust financial discipline, which together helped the company more than double its revenue, with services revenue growing more than five times,” the company said in the press release. Talking about the next CFO and his next stint with Apple, Maestri said, “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.” <h2>CEO Tim Cook about Kevan Parekh</h2> Apple CEO Tim Cook also expressed his confidence in Parekh’s ability to lead the company’s financial strategy. “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,” Cook said according to a press release by Apple. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/one-of-tim-cooks-big-bets-is-paying-off/articleshow/111763164.cms" data-type="tilCustomLink" target="_blank">One of Tim Cook's big bets is paying off</a> <a href="https://www.businessinsider.in/tech/news/the-iphone-16-is-less-than-3-months-away-heres-what-to-expect/articleshow/111412824.cms" data-type="tilCustomLink" target="_blank">The iPhone 16 is less than 3 months away here's what to expect</a>

Apple's new CFO is Indian origin Kevan Parekh: All you need to know

<ul class="summary-list"><li><a target="_blank" class="" href="https://www.businessinsider.com/apple">Apple</a> Chief People Officer Carol Surface is leaving after less than two years, Bloomberg reports.</li><li>Surface's exit adds to the number of top-ranking employees set to leave or switch roles soon.</li></ul><a target="_blank" class="" href="https://www.businessinsider.com/category/apple">Apple's</a> chief people officer is leaving the company after less than two years, Bloomberg reported Wednesday.Carol Surface, who had reported directly to <a target="_blank" class="" href="https://www.businessinsider.com/tim-cook">CEO Tim Cook</a>, oversaw HR at Apple, including recruiting, employee relations, and inclusion and diversity. An Apple spokesperson confirmed the move to <a target="_blank" class="" href="https://www.bloomberg.com/news/articles/2024-10-16/apple-s-chief-people-officer-to-exit-after-less-than-two-years">Bloomberg</a>.Her departure comes as at least four other executives are set to either leave the company or change roles.In September, <a target="_blank" class="" href="https://www.businessinsider.com/tech-unsung-heroes-2012-12#matt-fischer-for-running-apples-home-for-killer-apps-6">Matt Fischer</a>, head of Apple's <a target="_blank" class="" href="https://www.businessinsider.com/apple-app-store">App Store</a>, announced on LinkedIn that he'd be leaving the company this month after 21 years. He wrote that now was the "right moment to pass the baton" as Apple reorganizes his team to manage new challenges and opportunities.<a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/apple-cfo-luca-maestri-to-step-down-on-jan-1-kevan-parekh-to-replace-1033723249">Luca Maestri</a>, chief financial officer, plans to step down from his role in January but will continue to report to Cook as head of Apple's information systems and technology as well as real estate development, the <a target="_blank" class="" href="https://affiliate.insider.com?h=ad449428ecebc8e78819166d71677701c87faf0ab5721f3a3d9b84f2ef50b0b8&amp;postID=671026690c43543ec7be3d74&amp;postSlug=apple-chief-people-officer-leaving-carol-surface-executive-2024-10&amp;site=bi&amp;u=https%3A%2F%2Fwww.apple.com%2Fnewsroom%2F2024%2F08%2Fapple-announces-chief-financial-officer-transition%2F%23%3A~%3Atext%3DCUPERTINO%252C%2520CALIFORNIA%2520Apple%2520today%2520announced%2Crole%2520on%2520January%25201%252C%25202025.">company</a> announced in August. Kevan Parekh, VP of financial planning and analysis, will succeed Maestri, the company wrote.<a target="_blank" class="" href="https://www.bloomberg.com/news/articles/2024-10-09/apple-s-dan-riccio-key-executive-in-both-the-jobs-and-cook-eras-to-retire">Bloomberg</a> reported earlier this month that <a target="_blank" class="" href="https://www.businessinsider.com/apple-dan-riccio-hardware-engineering-chief-transition-to-new-project-2021-1">Dan Riccio</a>, vice president of engineering who headed Apple's Vision Pro, will retire after more than 26 years at the company. It cited people familiar with the matter.Dan Rosckes, Apple's global supply chain procurement chief, is also retiring after a 24-year stint, <a target="_blank" class="" href="https://www.bloomberg.com/news/articles/2024-10-07/apple-s-dan-rosckes-to-retire-as-global-head-of-procurement">Bloomberg</a> reported.Surface joined the company in 2023 from Medtronic, a medical hardware company, to oversee <a target="_blank" class="" href="https://www.businessinsider.com/workers-desperate-for-apple-jobs-because-of-creativity-pay-legacy-2024-7">Apple's more than 160,000 employees</a>.Apple employees were notified of Surface's exit on Wednesday, sources familiar with the matter told Bloomberg, which reported that Apple exec Deirdre O'Brien will manage Surface's team — a role she previously had. O'Brien will also continue to manage Apple's retail stores.A spokesperson for Apple did not respond to a request for comment from BI.

Apple's chief people officer, who reports directly to Tim Cook, is leaving the company after less than 2 years

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Kevan Parekh and the rise of Indian-origin leaders in multinational companies

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Apple's new CFO is Indian origin Kevan Parekh: All you need to know

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Apple's chief people officer, who reports directly to Tim Cook, is leaving the company after less than 2 years

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