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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Ex-CJI Chandrachud removed fear of law from political defectors, claims Sanjay Raut
Mumbai (PTI): Shiv Sena (UBT) leader Sanjay Raut on Sunday slammed former Chief Justice of India D Y Chandrachud, alleging that he had removed the fear of the law from politicians who defected from parties in Maharashtra.
Raut claimed that by not deciding on the disqualification petitions, Chandrachud kept doors and windows open for defections.
The Shiv Sena (UBT) leader's statement comes after his party faced a severe drubbing in the state assembly elections, as it managed to clinch only 20 out of 95 seats it contested as part of the Maha Vikas Aghadi (MVA).
The performance of the party's alliance partners was no better, with the Congress winning only 16 out of 101 seats and NCP (SP) getting only 10 out of 86 seats it contested.
Talking to reporters, Raut alleged, "He (Chandrachud) has removed the fear of the law from defectors. His name will be written in black letters in history."
Following the split in the undivided Shiv Sena in 2022, the party's faction headed by Uddhav Thackeray filed petitions in the Supreme Court on the disqualification of party MLAs who defected along with Eknath Shinde. The apex court put the onus on the assembly Speaker to decide on the disqualification petitions, which he did earlier this year, declaring the Sena bloc led by Shinde as the “real political party”.
Raut alleged that the results of the assembly election were pre-decided. If the then CJI had decided on the disqualification petitions on time, the outcome would have been different.
"We are sad but not disappointed. We will not leave the fight incomplete. Division of votes was also a factor, and the RSS played an important role in the election. The poisonous campaign impacted us negatively," he said.
He said the swearing-in ceremony for the new government should be held in neighbouring Gujarat.
Meanwhile, in his weekly column "Rokhthok" in the party mouthpiece "Saamana", the Shiv Sena (UBT) leader claimed that it was time to offer condolences to the Election Commission, which turned a blind eye to the use of money power.
"The courts have been in the ICU for a long time," he alleged.
