eNews
Apple’s Tim Cook’s handpicked CFO Kevan Parekh takes office
MUMBAI: Is 12 a lucky number?
Some may question the logic, saying there’s no such thing as luck.
But a dozen years proved extremely good for Kevan Parekh, who was handpicked by Apple CEO Tim Cook to become the CFO of Apple during his twelfth year with the company. Just as the clock hit the 12 midnight mark in New York on 31 December and the ball was beginning to drop in Times Square, Kevan’s term as the CFO commenced.
Kevan, an Indian origin executive, joined Apple in June 2013 and has played a key role in its financial and business planning, and product development planning since then. Prior to becoming CFO, he served as Apple’s vice president of financial planning and analysis. Before that, he served as Apple’s vice president of worldwide finance, supporting a number of different functions throughout his tenure, including engineering, iTunes, marketing, retail, and sales.
His pay package is speculated to be $1 million a year, plus participation in the company’s executive cash incentive plan for fiscal 2025.
Kevan, succeeds Luca Maestri, who was appointed CFO in 2014, and he will be reporting directly to Cook. As CFO, Kevan will be overseeing Apple’s accounting, business support, financial planning and analysis, treasury, investor relations, internal audit, and tax functions.
Maestri on his part continues to be part of Apple overseeing its corporate services teams. His responsibilities will include managing information systems and technology, cybersecurity, and real estate and development.
Before joining Apple, Kevan worked for eight years with General Motors in New York and then Europe. He returned to New York to join Thomson Reuters and stayed put as vice-president of finance (professional division) and then as corporate treasurer till 2013.
Kevan has a solid academic background and holds a bachelor science degree in electrical engineering, and an MBA from the University of Chicago which he completed in 2000 with a major in finance and strategic management.
eNews
Paisabazaar launches Credit Premier League 2.0
Nationwide campaign rewards highest credit scores with Rs 1 lakh top prize.
MUMBAI: When credit scores become a national league, even your CIBIL report starts feeling like it’s playing in the IPL and Paisabazaar has just kicked off the second season. Paisabazaar, India’s leading marketplace for financial products and the country’s largest free credit score platform, has announced the return of the Credit Premier League (CPL) 2.0, a fun, nationwide initiative to recognise and reward individuals with the highest credit scores.
Building on the success of the first edition, CPL 2.0 introduces higher rewards and broader participation. The individual(s) with the highest credit score in the country will win Rs 1 lakh, while state champions will each receive Rs 10,000. Additionally, all participants from the winning state, the one with the highest average credit score will also be rewarded.
All winnings will be credited directly to winners’ PB Wallet, allowing them to pay credit card bills, recharge mobiles, or settle utility bills seamlessly on the Paisabazaar platform.
Paisabazaar CEO Santosh Agarwal said the campaign aims to make credit awareness more engaging and mainstream. “With CPL, we are bringing together engagement, gamification and rewards to make conversations around credit scores more mainstream,” he noted. “Our focus remains on building a financially aware and credit-healthy Bharat.”
The first edition of CPL saw over 5.5 million participants, with the highest individual score touching 861. Delhi recorded the highest average credit score of 746.
Consumers can participate simply by checking their free credit score on the Paisabazaar platform or app. The CPL leaderboard and rankings will be available exclusively on the Paisabazaar App.
In a country where financial dreams are serious business, Paisabazaar has found a smart way to turn credit scores into an exciting game – because when your financial health gets rewarded, everyone wants to play.
