"For more than a decade, Kevan has been an indispensable member of Apple's finance leadership team, and he understands the company inside and out," Apple CEO Tim Cook said in a statement on Monday.
"I'm looking forward to the next stage of my time at Apple, and I have enormous confidence in Kevan as he prepares to take the reins as CFO," Maestri said.
"Parekh is an Apple insider that has been trained for this role over the years and we expect a seamless CFO transition in Cupertino," Wedbush analyst Dan Ives said in a note to clients.
"His sharp intellect, wise judgment, and financial brilliance make him the perfect choice to be Apple's next CFO," Apple CEO Tim Cook said about Kevan Parekh.
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