Cramer talks about changing Apple’s CFO

CNBC’s Jim Cramer weighed in Tuesday Appleits recent leadership change, saying the CFO’s transition will be smooth and add to its bullishness on the stock.

“It’s yet another reason why Apple is worth so much money. It’s what other companies wish they could do,” he said. “You can’t sleep well at night with a portfolio of tech stocks, but Apple has made it as easy as possible this time.”

The iPhone maker announced Monday that it will replace CFO Luca Maestri with Kevan Parekh, who has worked at the company for more than a decade. He is to continue at Apple after the transition, leading the corporate services team, the company said.

Cramer praised Maestri’s work, saying he has added shareholder value, helped the company expand into emerging markets and successfully repurchased shares. Apple’s stock has risen more than 800% since Maestri became CFO in 2014, and the company’s annual sales have doubled since then.

But according to Cramer, “this is the easiest possible transition that I can think of.” Parekh is known to many analysts, Cramer added, and has solid experience from his time as Apple’s vice president of financial planning and analysis. Apple CEO Tim Cook said in a statement that Parekh was an “indispensable” member of the company’s financial leadership team and that he “understands the company inside and out.” Prior to Apple, Parekh worked at Thomson Reuters and General Motors.

Apple made the announcement after the market closed on Monday, and its stock initially fell in extended trading, but rose during Tuesday’s session, ending up 0.37%.

“I can’t think of one thing Apple has done wrong when it comes to managing the day-to-day business, and I know Luca has played a big part in that,” Cramer said. “Highest compliment I can give? I bet Kevan Parekh will do exactly the same.”