Under Maestri’s leadership, Apple’s stock has soared 800% and revenue has more than doubled. Now, the company is set to unveil the iPhone 16, which will introduce AI and the A18 chip, along with the next-generation Apple Watch and AirPods.
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In a major changing of the guard in Cupertino, Apple announced that Luke Mastersil cfo who has guided the company’s finances with a firm hand for ten years, will withdraw at the end of the year. Effective January 1, 2025, the baton will pass to Kevan Parekh, currently vice president of Financial Planning and Analysis and an 11-year Apple veteran. Despite the change, Maestri will continue to work at the company, taking care of lead Business Services teamsincluding information systems, technology, cybersecurity, real estate and development, and will report directly to CEO Tim Cook. actions Apple’s shares showed a muted reaction to the news, dropping slightly by 0.9% at the open.
Apple, the triumphs of Maestri
Luca Maestri, originally from Rome and graduated in Economics and Business from Luiss Guido Carli with an MBA from Boston University, had a prestigious career before joining Apple in 2013. With previous experience in General Motors e Nokia Siemens NetworksMaestri joined Apple as vice president and corporate controller, before being promoted to CFO in 2014, succeeding Peter Oppenheimer.
During his tenure, Maestri led Apple through a period of extraordinary growth and innovation. Under his leadership, Apple’s stock price has increased by 800% and the sales of the company is more than doubledgoing from $183 billion in 2014 to $383 billion in 2023. Maestri led theExpansion in servicesa sector that has seen revenues grow more than fivefold, and has helped make Apple the world’s largest high-tech company by market capitalization. Cook praised Maestri for his crucial role in improving the company’s financial performance and the financial discipline applied across all sectors.
But now it’s Parekh’s turn to tackle a market with new challenges, including growing competition in China and the wait for innovations related to artificial intelligence. Parekh, who worked closely with Maestri and has 11 years of experience at Apple, was described by Cook as the ideal choice for the role of CFO. “Kevan has been an essential member of our finance team. His experience, judgment and expertise make him perfect for this role,” the top manager said.
Apple, the iPhone 16 is coming: here’s what we know
And while the changing of the guard goes smoothly, Apple is preparing for another big one novelty: l’iPhone 16. After surprising with better-than-expected sales in the third quarter, Apple expects further momentum from the integration of AI into the new iPhone. The big event is set for the September 9th at Apple’s headquarters in Cupertino, at 10:00 a.m. local time (7:00 p.m. Italian time).
But what do we know? The new iPhone 16 promises to be revolutionary, thanks to the integration of AI and the powerful A18 chip. Experts predict that the premium iPhone 16 models could feature a bigger screen and one camera with a design completely renewedalong with new exclusive colorways.
In addition to iPhones, the September event will include the unveiling of the next generation of Apple WatchThe Apple Watch Series 10 could sport a thinner design and larger displays, while an update is also expected for the Apple Watch SE and Apple Watch Ultra.
The AirPods They won’t be outdone: two new AirPods 4 models are planned, one similar to the current ones and one advanced with active noise cancellation (ANC), to satisfy both those looking for a basic solution and those who want a more sophisticated audio experience.
Finally, the event could include the announcement of the iOS 18 release datethe new operating system that will introduce the novelty of Apple Intelligence.
