Apple CFO role to change hands in June

Peter Oppenheimer will retire this year. Taking his place will be Luca Maestri, currently vice president of finance and corporate controller.

Apple's Peter Oppenheimer testifies before Congress, May 21, 2013
Apple's Peter Oppenheimer testifies before Congress on May 21, 2013 C-Span/Screenshot by CNET

The CFO seat at Apple will soon have a new occupant.

Apple announced Tuesday that Peter Oppenheimer, its current chief financial officer and a senior vice president, will retire at the end of September after 18 years at the company. Taking his place will be Luca Maestri, Apple's vice president of finance and corporate controller.

Maestri will take over the CFO duties in June and pick up the balance of Oppenheimer's responsibilities over the following several months.

"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," Tim Cook, Apple's CEO, said in a statement. "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."

Along with that vigorous growth and Apple's iPhone-fueled resurgence came questions from tax authorities in the US and Europe. Last March, Cook and Oppenheimer faced a grilling in the US Senate over the extent and fastidiousness of Apple's tax payments, but in September, the US Securities and Exchange Commission said that it was satisfied for the time being with the company's paperwork.

On Monday, Oppenheimer was appointed to the board of directors at investment bank Goldman Sachs. He has been CFO at Apple since taking over from Fred Anderson in 2004.

Maestri, meanwhile, has been with Apple since March 2013, and before joining Apple, he had been CFO at both Nokia Siemens Networks and Xerox.

"When we were recruiting for a corporate controller, we met Luca and knew he would become Peter's successor," Cook said.

About the author

Jonathan Skillings is managing editor of CNET News, based in the Boston bureau. He's been with CNET since 2000, after a decade in tech journalism at the IDG News Service, PC Week, and an AS/400 magazine. He's also been a soldier and a schoolteacher, and will always be a die-hard fan of jazz, the brassier the better.

 

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