What's happened
Apple's Chief Financial Officer Luca Maestri will step down on January 1, 2025, after a decade in the role. Kevan Parekh, currently vice president of financial planning and analysis, will succeed him. This leadership change comes as Apple prepares for a critical period, including the launch of new AI-powered products.
Why it matters
What the papers say
According to Ars Technica, Maestri's departure is described as a 'planned succession,' with Kevan Parekh being a well-prepared successor. The NY Post highlights Maestri's successful decade, noting that he will remain in a reduced role, which may help ease shareholder concerns. Business Insider UK emphasizes the potential of John Ternus as a future leader, indicating a broader shift in Apple's executive landscape.
How we got here
Luca Maestri has served as Apple's CFO since 2014, overseeing significant growth in the company's revenue and stock value. His departure marks a notable shift in Apple's leadership as the company navigates evolving market demands and technological advancements.
Common question
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What New Features Will the iPhone 16 Have?
As Apple gears up for the launch of the iPhone 16 on September 9, 2024, excitement is building around the new features and enhancements. With a focus on AI capabilities, including a revamped Siri, many are eager to know what to expect from this latest model. Below, we answer some of the most common questions about the iPhone 16.
More on these topics
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Apple Inc. is an American multinational technology company headquartered in Cupertino, California, that designs, develops, and sells consumer electronics, computer software, and online services.
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Luca Maestri is an Italian businessman. He is the senior vice president and chief financial officer at Apple Inc.
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Timothy Donald Cook is an American business executive, philanthropist and industrial engineer. Cook is the chief executive officer of Apple Inc., and previously served as the company's chief operating officer under its cofounder Steve Jobs.