It seems that Apple’s is getting a new finance chief as Peter Oppenheimer, its Chief Financial Officer for the past ten years, is retiring in September. He will be replaced by Luca Maestri, who previously worked as Apple’s vice president of finance and corporate controller. Maestri also was the CFO for Xerox and a General Motors executive. Oppenheimer spent 18 years working at Apple, and now he will be part of the Goldman Sachs board of directors. Tim Cook, Apple CEO, said the following:
Peter has served as our CFO for the past decade as Apple’s annual revenue grew from $8 billion to $171 billion and our global footprint expanded dramatically. His guidance, leadership and expertise have been instrumental to Apple’s success, not only as our CFO but also in many areas beyond finance, as he frequently took on additional activities to assist across the company. His contributions and integrity as our CFO create a new benchmark for public company CFOs. Peter is also a dear friend I always knew I could count on. Although I am sad to see him leave, I am happy he is taking time for himself and his family. As all of us who know him would have expected, he has created a professional succession plan to ensure Apple doesn’t miss a beat.
Peter Oppenheimer himself weighed in, saying that he quits his job at Apple in order to dedicate more time to his family, to travel and finish his pilot’s license:
I love Apple and the people I have had the privilege to work with and after 18 years here, it is time for me to take time for myself and my family. For quite some time, I have wanted to live on the central coast of California and get more involved at Cal Poly, my alma mater; spend more time with my wife and sons; travel to interesting parts of the world; and something I have wanted to do for years— finish the requirements for my pilot’s license.
Speaking about the new CFO, here’s what Tim Cook wanted to highlight:
Luca has over 25 years of global experience in senior financial management, including roles as a public company CFO, and I am confident he will be a great CFO at Apple. When we were recruiting for a corporate controller, we met Luca and knew he would become Peter’s successor. His contributions to Apple have already been significant in his time with us and he has quickly gained respect from his colleagues throughout the company.
Maestri worked for 4 years at Nokia Siemens Networks and 20 years at General Motors before joining Xerox as its CFO, having handled financial operations for the company across the globe. He holds a bachelor’s degree in economics from Luiss University in Rome in 1988, and a master’s degree of science from Boston University in 1991.
Source:
iPhoneForums
