Apple Plans to Appoint a New CFO, Succeeding Luca Maestri in the Upcoming Year

Today, Apple revealed that Luca Maestri, the Chief Financial Officer, will relinquish his executive duties starting January 1. Kevan Parekh, currently serving as Apple’s VP of Financial Planning, is set to ascend to the CFO role after dedicating 11 years to the company.

Since 2014, Maestri has occupied the CFO position at Apple and will now shift to a new capacity within the organization, under the direct supervision of CEO Tim Cook. Cook announced via a press statement that Maestri is tasked with leading the corporate services division, which includes responsibilities over information security and property management.

While Apple refrained from detailing the motivations behind the restructuring, it mentioned that the move is in alignment with a “deliberate succession strategy.”