Apple names insider Kevan Parekh as finance chief in place of Maestri

FILE PHOTO: An Apple logo is pictured in an Apple store in Paris, France, March 6, 2024. REUTERS/Gonzalo Fuentes/File Photo

(Reuters) -Apple on Monday named insider Kevan Parekh as its chief financial officer, replacing Luca Maestri who will transition from the role on Jan. 1, 2025.

Parekh, who will join the company's executive committee, most recently served as vice president of financial planning and analysis.

The iPhone maker's shares fell 1% in extended trading.

(Reporting by Manya Saini in Bengaluru; Editing by Arun Koyyur)