Apple’s longtime corporate treasurer is retiring after 35 years at the tech giant.
Bloomberg, citing people familiar with the matter, reports that Gary Wipfler, Apple’s corporate treasurer and keeper of its nearly $200 billion USD cash stockpile, has retired from the company after about 35 years.
As the Cupertino company’s treasurer, Wipfler oversaw Apple’s cash balance, investments, and capital-return programs. At one point, he was also reportedly a fixture on Apple’s quarterly earnings calls.
“Gary Wipfler stepped down in recent weeks, said the people, who asked not to be identified because the move hasn’t been announced. He oversaw the iPhone maker’s cash balance, investments and capital-return programs, and he was once a fixture of Apple’s quarterly earnings calls. The 62-year-old executive reported to Chief Financial Officer Luca Maestri until his retirement,” Bloomberg reports.
Wipfler’s career at Apple spanned several of the company’s CEO, predating even Steve Jobs’ return in 1997. When current CEO Tim Cook succeeded Jobs, Wipfler was integral in a change in Apple’s money management strategy that involved dedicating more cash to share buybacks and dividend programs.
Apart from serving as Apple’s corporate treasurer, Wipfler was also also a leader of Braeburn Capital, an Apple subsidiary that manages the company’s assets, and was very involved in the Cupertino company’s racial justice and affordable housing initiatives.