By Jean-Baptiste André Published on 08/27/2024 at 10:18 a.m.
Photo credit © Bonhams
(Boursier.com) — A page is turning at Apple. Luca Maestri, Apple’s longtime CFO, will step down at the end of the year. He will be replaced by his deputy Kevan Parekh after more than a decade as the California-based company’s finance chief. Parekh, 52, will become CFO on Jan. 1 in what Apple described as a “planned succession.” Maestri, who has been CFO since 2014, will remain at Apple in a reduced role, continuing to oversee its IT and real estate functions, the company said. The Italian-born executive will continue to report to CEO Tim Cook in his new role.
Bloomberg reports that Apple’s leadership team is likely to see more changes in the near future. Many of the executives are in their 60s and have been with the company for decades. The move to head the company’s finance department marks the second notable change this month. Last week, Apple told employees that Matt Fischer, its vice president of App Store, would be stepping down as part of a reorganization. He will be replaced by two deputies.
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