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Luca Maestri is no longer Apple’s chief financial officer. He stepped down from the CFO role on January 1, 2025, after Apple announced the planned transition on August 26, 2024. Kevan Parekh, an internal Apple finance executive, succeeded him. Maestri did not leave Apple; he remains vice president of Corporate Services, reporting to CEO Tim Cook.
What happened to Luca Maestri?
Apple’s CFO transition was announced in 2024 but took effect on January 1, 2025. Apple appointed Kevan Parekh as senior vice president and CFO, succeeding Maestri. The company formally recorded the appointment in a January 2025 SEC filing.
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That distinction matters: Maestri stepped down as CFO, but he did not retire from or leave Apple. Apple’s current leadership page lists Parekh as CFO and Maestri as vice president of Corporate Services.
Why did Maestri step down?
Apple described the change as a planned succession. Its public announcement did not give a separate personal, strategic, health-related or performance-related reason for Maestri’s move out of the CFO position. There is no public basis in the cited materials to describe the change as a firing, dispute or punitive demotion.
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Who replaced him?
Kevan Parekh was an internal successor, not an outside hire. Before becoming CFO, he was Apple’s vice president of Financial Planning and Analysis and had been with the company for 11 years, according to Apple’s announcement.
His earlier responsibilities included financial planning and analysis, general and administrative and benefits finance, investor relations, market research, and finance support for Apple’s sales, retail, marketing, product marketing, internet services and engineering organizations. Before Apple, Parekh held senior leadership positions at Thomson Reuters and General Motors. He has a bachelor’s degree in electrical engineering from the University of Michigan and an MBA from the University of Chicago.
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As CFO, Parekh oversees accounting, business support, financial planning and analysis, treasury, investor relations, internal audit and tax, according to his Apple investor-relations biography.
What is Maestri doing now?
Maestri remains Apple’s vice president of Corporate Services and continues to report to Cook. His responsibilities include:
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Apple’s biography says Maestri joined the company in 2013 and served as CFO for about a decade after becoming CFO in 2014. His new role is therefore a change in executive responsibility, not an exit from the company.
What did Maestri accomplish as CFO?
Apple credited Maestri with helping improve the company’s financial performance, strengthen shareholder engagement and promote financial discipline. Apple also said that during his tenure as CFO, total company revenue more than doubled and services revenue grew more than fivefold.
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Those are Apple’s characterizations and should not be read as proof that Maestri alone caused the company’s growth. Apple’s performance also reflects its products, services, markets and broader executive and operational decisions.
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| Date | What happened |
|---|---|
| 2013 | Maestri joined Apple. |
| 2014 | Maestri became Apple’s CFO. |
| August 26, 2024 | Apple announced the planned CFO succession. |
| January 1, 2025 | Parekh became CFO and Maestri moved into Corporate Services. |
| January 3, 2025 | Apple filed the current report documenting Parekh’s appointment. |
| January 30, 2025 | Apple’s quarterly-results release referred to Parekh as CFO. |
The later filing and earnings release confirmed that the announced transition had been completed, rather than remaining a future personnel change.
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What does the change mean for Apple?
The available evidence points to continuity rather than a disclosed financial-policy or strategy shift:
- Internal succession: Parekh already knew Apple’s finance operations and business units.
- Role expansion: He moved from leading FP&A and related functions to overseeing the broader CFO organization.
- Executive continuity: Maestri stayed at Apple in a senior operating role.
- No disclosed policy change: The transition announcement does not establish a change to Apple’s accounting, capital-return policy, guidance or financial strategy.
It would also be premature to infer that the CFO transition was connected to CEO succession, a conflict with Cook or a change in Apple’s business outlook. Those conclusions require evidence beyond the leadership announcements and filings.
Compensation and the role change
Apple’s 2026 proxy says Maestri’s 2025 compensation was adjusted after his responsibilities changed. It reports that his salary was reduced from $1 million to $750,000 effective January 1, 2025, while he continued reporting to Cook and leading Corporate Services.
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Bottom line
Apple’s CFO transition is complete: Kevan Parekh became CFO on January 1, 2025, replacing Luca Maestri. Maestri remains at Apple as vice president of Corporate Services. Apple called the move a planned succession and has not publicly provided a more specific reason for Maestri’s departure from the CFO role.
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