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Apple CFO Peter Oppenheimer To Retire Later This Year

Apple CFO Peter Oppenheimer To Retire Later This Year

March 4, 2014
Peter Oppenheimer, Apple’s senior vice president and CFO, will retire at the end of September. Cupertino says Luca Maestri, the company’s vice president of finance and corporate controller, will replace Oppenheimer in June, allowing for a “professional and seamless transition.” Apple CEO Tim Cook praised Oppenheimer, whom he calls a “dear friend,” noting:
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.
Maestri, who once worked at GM, arrived at Apple in March 2013. Prior to joining Apple, Maestri was CFO at both Nokia Siemens Networks and Xerox. Of Maestri, Cook says:
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.
Oppenheimer arrived at Apple in 1996, serving first as controller for the Americas. He was soon promoted to vice president and Worldwide Sales controller, and then to corporate controller prior to become CFO. He recently joined the Board of Directors of Goldman Sachs. Maestri isn’t the only new employee about to join Apple’s senior executive team. Angela Ahrendts, the former CEO of Burberry, will soon become the company's new senior vice president of Retail and Online sales.

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