Apple has announced that Parag Parekh will succeed Luca Maestri as CFO, with Maestri remaining in a different role within the company.

Tim Cook commended Maestri for his significant contributions to Apple's financial growth and investor relations during his tenure.

Before joining Apple, Parekh held senior roles at Thomson Reuters and General Motors, where he focused on strategic initiatives.

The transition is set to take place after at least one more earnings call, expected in early November, following the announcement of the iPhone 16.

Keeping Maestri involved in a limited capacity may be a strategy to reassure shareholders during this leadership change.

Analysts believe this transition is part of normal management planning and expect it to proceed smoothly.

This leadership change comes just ahead of Apple's major product launch season, which will showcase new iPhones and significant software upgrades.

Parekh's responsibilities will include maintaining prudent capital management and possibly exploring complementary acquisitions.

Analysts view the transition to Parekh as well-planned, with Maestri's ongoing involvement aimed at reducing financial uncertainties.

Apple has faced slowed iPhone sales due to a lack of significant upgrades and increased competition from Android devices.

The upcoming product upgrades are expected to feature essential AI capabilities to help Apple combat a global sales slowdown.

Some analysts express cautious optimism about the leadership change, noting that investors may feel disappointed given Maestri's substantial contributions.