India, Jan. 6 -- Months after making the announcement, tech giant Apple has informed its investors that Kevan Parekh assumed office as the company's senior vice president and chief financial officer (CFO) on January 1, 2025.

The Indian-origin executive took over the position from Luca Maestri, who served as the CFO at Apple for ten years.

Along with the promotion, Parekh's annual salary has increased to $1 Mn, the company in a Security and Exchange Commission (SEC) filing on Friday (January 3).

".he (Parekh) is eligible to participate in the Apple Inc. Executive Cash Incentive Plan for fiscal year 2025 on the same basis as Apple's other named executive officers," the company added.

It is pertinent to note that Parekh joined Apple back...