Apple CFO Maestri to hand off job to Kevan Parekh; moves to smaller role

Longtime Apple Inc. Chief Financial Officer Luca Maestri will step down from the job at the end of the year, handing the role to top deputy Kevan Parekh after more than a decade.

Parekh, 52, will become CFO on Jan. 1 in what Apple described as a “planned succession.” Maestri, who has been CFO since 2014, will remain at Apple in a reduced position, continuing to oversee information technology and real estate functions, the company said Monday.