Apple names Indian-origin Kevan Parekh as new finance chief will take charge in January
Apple: Apple has taken this decision just before the launch of its new products this season. According to experts, the biggest software upgrade ever can be done for the iPhone this season.
Tech giant Apple announced on Monday the appointment of Kevan Parekh as its new chief financial officer. He will succeed company veteran Luca Maestri and take over the role on January 1, 2025.
Apple has taken this call just before launching its new products this fall. Experts believe that it may just be possible to go in for the biggest-ever software upgrade on the iPhone this fall.
These changes also include the use of artificial intelligence (AI), making it of great importance for Apple to overcome the slowdown in global sales at this particular moment. Parekh has been with Apple for more than a decade and will now join the company's executive committee. He is currently serving as vice president of financial planning and analysis.
Prior to Apple, Parekh held senior leadership roles at Thomson Reuters and General Motors. Apple said Maestri will continue to lead corporate services teams, including information systems and technology, information security, and real estate and development, and report to CEO Tim Cook.
During Maestri's tenure, Apple has more than doubled its revenue, with revenue coming from services growing more than fivefold. Earlier this month, Apple said its third-quarter iPhone sales were better than expected and the company forecast higher profits as it bets on artificial intelligence to attract buyers.
