Apple CFO To Retire, Maestri Named Successor

Apple CFO To Retire, Maestri Named Successor

apple CFO Luca Maestri Peter Oppenheimer

March 4th, 2014 By:

(The Hosting News) – Apple’s Chief Financial Officer and Senior Vice President, Peter Oppenheimer, will retire at the end of September, ending his 18 year career at the Cupertino, California based company.

Luca Maestri, current VP of Finance and Corporate Controller will succeed Oppenheimer as CFO, starting the transition in June, announced Apple early Tuesday.

During Oppenheimer’s years as CFO, Apple saw an annual revenue increase from $8 billion to $171 billion, as well as the company globally expanding its products.

“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,” said Tim Cook, Apple CEO.

Maestri recently started working at Apple and has over 25 years of experience in senior financial management. He will oversee the controller, treasury, investor relations tax, information systems, and internal audit and facilities functions.

“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,” added Cook.

In a statement, Oppenheimer said during his retirement he wants to spend more time with his family, travel, get more involved with Cal Poly, and finish his pilot’s license.

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