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Apple names insider Kevan Parekh as finance chief in place of Luca Maestri

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Parekh, who has been with the company for more than a decade and most recently served as VP of financial planning and analysis, will join Apple’s executive committee

Earlier in August, Apple said its third-quarter iPhone sales were better than expected and forecast more gains as it bets on artificial intelligence to attract buyers, even as its overall China business disappointed.on Monday named insider Kevan Parekh as its chief financial officer, replacing Luca Maestri who will transition from the role on Jan. 1, 2025.

It includes artificial intelligence features, which are crucial for Apple as it looks to reverse a global sales slowdown, particularly in China. As the finance chief, Maestri helped Apple more than double its revenue, with services revenue growing more than five times.Earlier this month, Apple said its third-quarter iPhone sales were better than expected and forecast more gains as it bets on artificial intelligence to attract buyers, even as its overall China business disappointed.

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