It’s been a busy week behind the scenes at Apple. On August 26th, the company’s CFO, Luca Maestri decided to transition out of his role at the end of 2024 to be replaced with Kevan Parekh on the Apple executive team as CFO.
That said, Maestri is still staying at Apple in a reduced capacity. He will continue to lead Apple’s corporate services teams and report to Tim Cook for those responsibilities. Maestri has worked for Apple since 2014, and before that, he worked at General Motors and Nokia Networks.
It’s expected that Maestri will stick with Apple for a bit to help smooth out the transition, but it’s expected that this move will bring the 60-year-old tech exec closer to retirement. One notable piece of information reported on by 9to5Mac claims that one of Maestri’s top deputies left Apple to become the CFO at Sonos earlier this year, suggesting Apple has been working on this transition behind the scenes for some time.
In unrelated news, Apple is also laying off 100 positions in the digital services groups that oversee Apple Books and Apple News. Bloomberg says that these cuts aren’t indicative of Apple moving away from these subscription services. Instead, it is just trying to recalibrate its focus on Apple Books since it hasn’t been a huge revenue driver. New features should still come to the app over time.
Apple doesn’t often do layoffs, but it was reported that earlier this year Apple did cut 600 positions from the cancelled Apple Car project as well.
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