Maestri will continue to lead teams focusing on IT, security, and real estate development, Apple said.
Apple announced Monday that it will replace Chief Financial Officer Luca Maestri on Jan. 1 with current Apple insider Kevan Parekh.
He had been Apple CFO since 2014. "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. His sharp intellect, wise judgment, and financial brilliance make him the perfect choice to be Apple's next CFO," Apple CEO Tim Cook said in a statement.
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