Who is Apple's new Indian-origin CFO Kevan Parekh, what's his salary? Here are all details

Apple Inc. has appointed Indian-origin executive Kevan Parekh as its new Chief Financial Officer (CFO), effective January 1, 2025. Parekh, who has been with Apple since 2013, succeeds Luca Maestri, marking a significant leadership transition within the tech giant.

Kevan Parekh's Professional Journey at Apple

Kevan Parekh joined Apple over a decade ago and has held pivotal roles, including Vice President of Financial Planning and Analysis and Vice President of Finance for Sales, Marketing, and Retail. In these capacities, he oversaw financial planning, investor relations, and market research, contributing significantly to Apple's financial strategies and product development.

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Kevan Parekh's Educational Background and Previous Experience

Born in 1972, Parekh holds a Bachelor of Science in Electrical Engineering from the University of Michigan and an MBA from the University of Chicago. Before his tenure at Apple, he held senior leadership positions at Thomson Reuters and General Motors, focusing on regions across Europe and Asia.

Upon assuming the CFO role, Parekh's annual salary has been set at $1 million (approximately ₹8.57 crore). Additionally, he is eligible to participate in Apple's Executive Cash Incentive Plan for fiscal year 2025, with a target opportunity of 175% of his base salary, reflecting his elevated responsibilities within the company.

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Apple's CEO, Tim Cook, said Parekh was "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."

FAQs:

Why is Kevan Parekh's appointment important?
Kevan Parekh's appointment is important as he is of Indian origin and has played a key role in shaping Apple's financial strategies over the years.

What will be Kevan Parekh's responsibilities as Apple's CFO?
As CFO, Kevan Parekh will be responsible for overseeing Apple's global financial operations, planning, and investor relations.