Previously Vice President and Corporate Controller at Apple, Maestri succeeds Peter Oppenheimer as finance chief, as first announced by the company last March. Oppenheimer, however, will not be retiring until the end of September, and will be handing over to Maestri in the interim. Maestri will also continue to serve as Apple’s Principal Accounting Officer.
In line with his promotion, Maestri will receive an annual salary of $1 million and be eligible to participate in Apple’s performance-based cash bonus program for executive officers. In addition, he has been awarded 6,337 restricted stock units under Apple’s 2014 employee stock plan.
Maestri served for two years as CFO of Xerox before joining Apple last year.
Maestri’s appointment as SVP and CFO was effective yesterday, May 29, but he is yet to be added to Apple’s Executive Profiles page.
Earlier this month, former Burberry CEO Angela Ahrendts was added to the Apple Leadership roster as Apple’s new SVP of Retail and Online Stores.
On the other hand, Katie Cotton, Apple’s longtime Vice President of Worldwide Corporate Communications, has officially retired today.