Following Luca Maestri, Apple has appointed Kevan Parekh as its new Chief Financial Officer (CFO). Apple is one of the world’s most renowned companies in the tech field. Parekh became the first-gen Indian American to lead Apple’s financial strategies as a CFO. Thus, the trend of Indian-origin executives assuming prestigious roles globally in renowned companies continues.
Journey of Kevan Parekh, CFO Apple
Parekh was born in the United States to Indian immigrant parents. He studied engineering at the University of Michigan and gained his business degree at the University of Chicago Booth School of Business. Before joining Apple, Parekh worked with several global financial institutions for 20 years. He gained knowledge in financial management and strategic thinking.
Parekh joined Apple in 2013. He served as Vice President of the organization. His financial planning and risk management skills made him the perfect candidate to manage Apple’s financial operations. After Luca Maestri stepped down, Kevan Parekh became the CFO of Apple.
His Annual Compensation
Parekhs’s annual compensation was increased to 1 million dollars. He can now also participate in the Apple Inc. Executive Cash Incentive Plan for Fiscal Year 2025. Tim Cook, CEO of Apple, said that Kevan understands the company wholly. His judgment and understanding make him ideal as the next CFO.
The Significance of His Appointment
Being an Indian-origin leader, Parekh’s appointment has set a standard where Indians take leadership in global companies. His leadership spotlights the contribution of Indian origin globally. Global leaders such as Sundar Pichai, Satya Nadella, and others are assuming top positions in renowned companies, thereby representing India globally.
In summary, Kevan Parekh, CFO of Apple, embraces a new chapter in the organization. His expertise in financial and strategic planning makes him the visionary and ideal candidate for the CFO role.
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