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20h ago

Apple Names Sabih Khan COO and Kevan Parekh CFO as AI Integration Lags

Apple’s board remains loyal to Tim Cook despite mounting executive turnover

Cook has struggled to prove to Wall Street that Apple has an AI strategy that's paying off.
Apple CEO Tim Cook took the helm of the company in 2011.
Apple CEO Tim Cook
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Overview

  • Sabih Khan succeeds Jeff Williams as chief operating officer and Kevan Parekh takes over from Luca Maestri as chief financial officer.
  • Top AI leaders Ruoming Pang and Tom Gunter have exited, and Apple Intelligence and Siri upgrades have been delayed by technical setbacks.
  • LightShed Partners analysts warn that the company needs a product-focused CEO to compete in the rapidly evolving AI landscape.
  • Apple stock has fallen about 16% this year and is down 7.2% over the past 12 months, underperforming the S&P 500 and Nasdaq.
  • Since 2011, Apple’s market value has surged from roughly $300 billion to over $3 trillion, reinforcing board support for Cook and postponing clear succession planning.