Apple names Indian-origin Kevan Parekh as new CFO
New Delhi, Aug 27: iPhone maker Apple has named Kevan Parekh as its new chief financial officer in a move that adds to the growing roster of Indian-origin executives at C-suites of global firms.
Parekh, 52, will take over the baton from Apple veteran Luca Maestri, who will transition from his role on January 1, 2025.
Maestri will continue to lead the Corporate Services teams, including information systems and technology, information security, and real estate and development, reporting to Apple CEO Tim Cook.
"As part of a planned succession, Kevan Parekh, Apple's Vice President of Financial Planning and Analysis, will become Chief Financial Officer and join the executive team," the Cupertino, California, headquartered Apple said in a statement.
Apple CEO Tim Cook said Parekh's sharp intellect, wise judgment, and financial brilliance make him the perfect choice to be Apple's next CFO.
"For more than a decade, Kevan has been an indispensable member of Apple's finance leadership team, and he understands the company inside and out," Cook said.
Parekh has been at Apple for 11 years and currently leads Financial Planning and Analysis, G&A and Benefits Finance, Investor Relations, and Market Research.
Prior to this role, Parekh led Worldwide Sales, Retail, and Marketing Finance.
He began his tenure by leading the financial support of Apple's Product Marketing, Internet Sales and Services, and Engineering teams.
Before joining Apple, Parekh held various senior leadership roles at Thomson Reuters and General Motors, where he also had extensive global experience.
Parekh is an electrical engineer with a Bachelor of Science from the University of Michigan and an MBA from the University of Chicago.
Maestri said he is looking forward to the next stage of his time at Apple, and expressed confidence over Parekh's transition to the CFO role.
"...and I have enormous confidence in Kevan as he prepares to take the reins as CFO. He is truly exceptional, has a deep love for Apple and its mission, and he embodies the leadership, judgment, and values that are so important to this role," Maestri said.
Reports suggest that over the past months, Parekh has been prepared for the CFO role by Maestri.
Over the past years, many Indian-origin executives have been named to the C-Suite positions of global companies - the ever-expanding list includes Microsoft Chief Satya Nadella; Alphabet CEO Sundar Pichai; Adobe CEO Shantanu Narayen; Tesla chief financial officer Vaibhav Taneja, among others.
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Cummins doubtful for T20 World Cup? It's quite grey right now, says Aus head coach
Melbourne (PTI): Australia skipper Pat Cummins' chances of playing at next year's T20 World Cup in India and Sri Lanka are "quite grey at the moment" as he battles a back stress issue that has affected his participation in the ongoing Ashes series against England.
Cummins returned to play the third Ashes Test in Adelaide after missing the opening two matches, picking up six wickets to help Australia clinch the series 3-0.
However, the Australian Test and ODI skipper will take no further part in the series and even his participation at the T20 World Cup is also uncertain. All-rounder Mitchell Marsh is Australia's T20I captain.
"Looking forward to the World Cup, whether he will be there or not, I can't really say. It's quite grey at the moment. We're hopeful," head coach Andrew McDonald was quoted as saying by 'ESPNCricinfo'.
The fast bowler was diagnosed with a lumbar stress reaction during Australia's tour of the West Indies in July. He underwent rehabilitation before being cleared for a carefully managed return in Adelaide.
"He's pulled up fine. He won't play any part in the rest of the series and that was a discussion that we had a long time out around his return," McDonald said.
"We were taking on some risk and people that reported on that would understand the risk associated with that rebuild. We've now won the series and that was the goal.
"So, to position him for further risk and jeopardise him long-term is not something that we want to do and Pat's really comfortable with that," he added.
The T20 World Cup is scheduled to begin on February 7 across India and Sri Lanka with the summit clash set for March 8.
Australia's first match is on February 11 against Ireland at Colombo. Although Cummins captains the Test and ODI teams, all-rounder Mitch Marsh leads Australia in the shortest format.
