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Apple announced the planned handoff on August 26, 2024. The board’s appointment was formally disclosed in a December 30, 2024 SEC filing, making this a scheduled transition rather than a sudden resignation or ouster.
What Apple announced
Apple said Maestri would step down from the CFO position on January 1, 2025, and that Parekh, then vice president of Financial Planning and Analysis, would take over. The announcement described an internal succession plan, not Maestri’s retirement or departure from the company. Apple’s announcement also said Maestri would continue leading Corporate Services.
Who is Kevan Parekh?
Parekh joined Apple in June 2013. Before becoming CFO, he led Financial Planning and Analysis and held finance responsibilities supporting sales, marketing, retail, product marketing, Internet Sales and Services, and engineering. Earlier in his career, he held senior roles at Thomson Reuters and General Motors.
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- Bachelor’s degree in electrical engineering, University of Michigan
- MBA, University of Chicago
Apple’s current leadership profile says Parekh oversees accounting, business support, financial planning and analysis, treasury, investor relations, internal audit, and tax. His profile lists him as senior vice president and CFO reporting to CEO Tim Cook. Apple investor-relations leadership profile
What happened to Luca Maestri?
Maestri stepped down from the CFO role, but remained an Apple executive. He became vice president of Corporate Services, responsible for information systems and technology, information security, and real estate and development, reporting to the CEO. Apple’s current leadership page continues to list him in that position as of August 18, 2026. Apple investor-relations leadership profile
Maestri had been Apple CFO since 2014. In its 2024 announcement, Apple credited him with helping drive long-term financial performance, shareholder engagement, and financial discipline. Apple said revenue more than doubled and Services revenue grew more than fivefold during his tenure; those are Apple’s characterizations, not an independent assessment of causation. Apple Newsroom
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When did the succession happen?
| Date | Event |
|---|---|
| June 2013 | Parekh joined Apple. |
| 2014 | Maestri became Apple CFO. |
| August 26, 2024 | Apple announced the planned succession. |
| December 30, 2024 | Apple disclosed the board’s appointment of Parekh in an SEC filing. |
| January 1, 2025 | Parekh formally became CFO and Maestri left the CFO position. |
| August 18, 2026 | Apple’s leadership pages still listed Parekh as CFO and Maestri as vice president of Corporate Services. |
The SEC filing states that Parekh succeeded Maestri effective January 1, 2025. SEC Form 8-K
What the change means for investors
Strong continuity is the clearest signal
Parekh was promoted from inside Apple after more than 11 years with the company and had already worked across major operating and finance functions. That background should reduce onboarding risk and preserve familiarity with Apple’s reporting systems, capital processes, business segments, and investor relationships. This is an inference from the internal appointment, not a guarantee of future results.
It does not establish a new financial strategy
The succession alone does not demonstrate a change in Apple’s buyback policy, dividend policy, acquisition plans, debt approach, spending on artificial intelligence or infrastructure, or financial targets. Investors should look for separate disclosures before attributing any policy change to the CFO handoff.
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Investor relations continuity
Because Parekh previously held investor-relations responsibilities, he was already familiar with shareholder communications. That may make the transition smoother than an external appointment, although it does not predict how markets will respond to future results or guidance.
The governance trade-off
An internal promotion preserves institutional knowledge and controls, but it can also carry forward existing assumptions. Whether that becomes an advantage or limitation depends on Apple’s future performance and decisions, not on the appointment by itself.
Compensation and governance details
The December 2024 SEC filing reported that Parekh’s annual salary became $1 million on January 1, 2025. He became eligible for Apple’s executive cash incentive plan, with a reported 2025 target opportunity of 175% of base salary based on time spent in the relevant roles during fiscal 2025. He also received performance-based and time-based restricted stock units. SEC Form 8-K
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Apple’s 2026 proxy reported 2025 total compensation of approximately $22.47 million for Parekh and $15.48 million for Maestri. These are reported accounting values, not simply cash paid during the year; equity awards account for much of executive compensation. Apple 2026 proxy statement
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Questions investors commonly ask
Did Luca Maestri leave Apple?
No. He left the CFO role and became vice president of Corporate Services.
Is Kevan Parekh still Apple’s CFO?
Yes. Apple’s leadership information dated August 18, 2026 lists him as senior vice president and CFO.
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- BUCKLE UP — Along with a next-generation CPU, faster unified memory, and up to 2x faster SSD storage,* M5 Pro and M5 Max feature a more powerful GPU with a Neural Accelerator built into each core, delivering faster AI performance and on-device training capabilities. So you can blaze through demanding workloads at mind-bending speeds.
- BUILT FOR AI — Apple silicon, and every major component that powers it, is designed to run demanding on-device AI workloads like LLM inference and training. And Apple Intelligence helps you write, express yourself, and get things done effortlessly with groundbreaking privacy protections at every step.*
- ALL-DAY BATTERY LIFE — MacBook Pro delivers the same exceptional performance whether it’s running on battery or plugged in.*
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Does the appointment mean Apple will change its buybacks or dividends?
Not by itself. The succession announcement contains no verified evidence of a new buyback, dividend, acquisition, debt, or spending policy.
Was this a sudden resignation?
No. Apple announced the plan in August 2024, disclosed the board appointment in December, and completed the handoff on January 1, 2025. Apple’s 2025 proxy described the transition as successfully completed. Apple 2025 proxy statement
Is this related to a CEO succession?
No. The CFO transition is a separate executive change and does not establish a CEO succession plan.
The Bottom Line
Apple’s CFO change was a planned internal handoff completed on January 1, 2025. Kevan Parekh now leads Apple’s finance organization, while Luca Maestri remains with Apple in Corporate Services. The available official evidence points to continuity, not a documented change in Apple’s financial strategy.
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