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.
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.
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