Who is Kevan Parekh? First-gen Indian-origin American who became Apple CFO, check his 8-figure salary | Company Business News
Kevan Parekh, of Indian origin, became Apple Inc’s Chief Financial Officer on January 1, 2025. The first-generation Indian American succeeded Luca Maestri nearly 11 years after working with the iPhone maker.
Parekh was appointed earlier as Apple Inc.’s Vice President of Financial Planning and Analysis and has held various key positions, overseeing financial planning, investor relations, and market research. According to reports, he will likely earn an eight-figure salary (in rupees) for his new post.
How much Apple Inc CFO Kevan Parekh will earn?
Kevan Parekh is likely to earn $1 million (approximately ₹8.57 crore) annually as Apple Inc’s CFO. Kevan Parekh’s appointment was confirmed in August last year.
“Mr. Parekh’s annual salary was increased to $1 million, effective January 1, 2025, and he is eligible to participate in the Apple Inc. Executive Cash Incentive Plan for fiscal year 2025 on the same basis as Apple’s other named executive officers, with a target opportunity of 175% of base salary based on his time in his respective roles for fiscal year 2025,” said Apple Inc in a form shared with United States Securities and Exchange Commission.
“Kevan has been an indispensable member of Apple’s finance leadership team, and he understands the company inside and out. His sharp intellect, wise judgment and financial brilliance make him the perfect choice to be Apple’s next CFO,” Tim Cook, CEO of Apple said in a statement from the company.
Kevan Parekh joined Apple in 2013
After joining Apple Inc. in 2013, Kevan Parekh played a key role in formulating the company’s financial and business plans and a crucial role in product development.
Apart from his role as Apple Inc.’s vice president of financial planning and analysis, Parekh has also served as the company’s vice president of worldwide finance support. These roles allowed Parekh to oversee several different functions throughout his tenure, including Engineering, iTunes, Marketing, Retail, and Sales.
Kevan Parekh’s education and career
Kevan Parekh has also worked with Thomson Reuters and General Motors, with his job’s main focus in regions across Europe and Asia. He pursued his education from Michigan and Chicago. Kevan Parekh graduated with a Bachelor of Science in Electrical Engineering from the University of Michigan and earned an MBA from the University of Chicago. He has over 20 years of experience leading global finance teams at major companies.
