Apple has announced that Chief Financial Officer Luca Maestri will step down from his role, effective January 1.
Stepping into the CFO position is Kevan Parekh, currently the VP of Financial Planning, who has spent 11 years at the tech giant.
Maestri, who has served as Apple’s CFO since 2014, will transition to a new role within the company, reporting directly to CEO Tim Cook.
In his new position, Maestri will continue to lead the corporate services team, which includes oversight of information security and real estate.
While Apple didn’t elaborate on the reasons behind this change, the company described it as “part of a planned succession.”
This move highlights Apple’s focus on maintaining stability within its executive ranks as the business landscape evolves.
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