Indian-Origin Kevan Parekh Appointed as Apple CFO with $1 Million Annual Salary

Indian-origin Kevan Parekh has been named the new Chief Financial Officer (CFO) of Apple Inc. He will assume the position on January 1, 2025, with an annual salary of $1 million (₹8.57 crore). Parekh joined Apple in 2013 and has held various leadership roles during his tenure.

A Decade at Apple

Over the last decade, Parekh served as Vice President of Financial Planning and Analysis and Vice President of Finance. His leadership has greatly influenced Apple’s financial strategies.

Apple CEO Tim Cook praised Parekh, stating, “Kevan has been an indispensable part of Apple’s finance leadership team. His intellect and judgment make him ideal as CFO.”

Born in 1972, Parekh holds a Bachelor of Science in Electrical Engineering from the University of Michigan. He earned an MBA from the University of Chicago. Before joining Apple, he worked in senior roles at Thomson Reuters and General Motors.

According to Apple’s filing with the SEC, Parekh’s annual salary will increase to $1 million starting January 1, 2025. He will also participate in the Executive Cash Incentive Plan for fiscal year 2025, with a target of 175% of his base salary.

Apple announced the CFO transition on August 27, 2024. Parekh will replace Luca Maestri as part of Apple’s structured leadership change.

Kevan Parekh’s leadership and expertise position him as a vital contributor to Apple’s future financial success.