Key Takeaways:
- Former chief financial officer Luca Maestri left corporate services recently.
- Current chief financial officer Kevan Parekh assumed all corporate services duties.
- The longtime executive is preparing for retirement while visiting weekly.
Former Apple chief financial officer Luca Maestri recently stepped down from managing corporate services teams, leaving current financial chief Kevan Parekh to assume those duties during executive leadership changes at Apple.
Kevan Parekh assumes corporate services duties
Former chief financial officer Luca Maestri stepped away from his role running corporate services over the last few weeks. Current chief financial officer Kevan Parekh has taken over these vital responsibilities, which cover crucial areas like information systems, security, technology, real estate, and corporate development.
These structural organizational changes happen directly as John Ternus takes over as the new chief executive officer of the major technology giant.
Maestri previously served as the chief financial officer under former leader Tim Cook before shifting roles at the end of 2024 to become Vice President of Corporate Services.
With new leadership taking control at the top, Maestri decided to alter his work portfolio and drop these heavy administrative burdens entirely. Industry reports indicate that Maestri no longer reports to the chief executive officer at all during this final phase of his tenure.
The smooth transition ensures that critical corporate infrastructure continues running without interruption under new financial leadership.
Longtime executive prepares for eventual retirement
Maestri remains on the company payroll despite stepping down from his major administrative duties and everyday management responsibilities. However, he currently holds minimal responsibilities beyond hosting a single educational class at Apple University, which functions as an in-house platform for educating executives and employees.
Sources report that the veteran executive only visits the corporate office about once a week.
This reduced schedule clearly signals that the veteran executive is winding down his long career in preparation for an eventual retirement. Former leader Tim Cook liked keeping departing executives in smaller roles, though new management may alter that longstanding corporate practice.
Maestri spent more than a decade helping guide the tech company through massive financial growth, and his final departure will close a major chapter in corporate history.
More executive changes unfold across apple
Maestri is not the only high-ranking leader adjusting his workload during this significant corporate transition period. Apple Fellow Phil Schiller also reduced his regular duties recently, handing over control of the App Store and product events to other managers.
These strategic shifts coincide directly with John Ternus stepping into the top executive position.
Apple also updated its official leadership web page to reflect these shifting executive roles across the organization. Changes include title updates for government affairs leader Jennifer Newstead and detailed biography tweaks for senior executives like Deirdre O’Brien and Johny Srouji.
The company continues organizing its management structure for the future while observers expect additional updates as the new team settles into place.
