Apple’s senior vice president and CFO, Peter Oppenheimer, will retire at the end of September, Apple announced today. Luca Maestri, the company’s vice president of Finance, and corporate controller, will take his position.
In his comment on the matter, Tim Cook praised Oppenheimer’s work during the past decade, during which Apple’s revenue has grown to $171 billion, and applauded the CFO’s decision to focus on himself and his family.
“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,” said Tim Cook, Apple CEO. “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.”
Also, Tim Cook expressed his belief that Luca Maestri’s 25 years of global experience in senior positions in financial departments make him a great choice of CFO for Apple.
“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,” added Tim. “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.”
The announcement comes shortly after Peter Oppenheimer joined the Board of Directors of Goldman Sachs.