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Apple CFO plans to retire, join board

Fred Anderson, the company's longtime chief financial officer, plans to retire later this year, to be replaced by Peter Oppenheimer, senior finance VP.

Apple Computer said Thursday that longtime Chief Financial Officer Fred Anderson plans to retire later this year.

In a press release, Apple said Anderson will retire June 1, to be replaced by Peter Oppenheimer, the company's controller and senior finance vice president. Apple said it intends to name Anderson to the board of directors, following his retirement.

"We have been grooming Peter for this role for four years, and he is going to be a great CFO," Anderson said in the statement.

Oppenheimer is already in charge of almost all of Apple's financial departments, the company said.

Both executives came to Apple from Automatic Data Processing in 1996. Anderson had been CFO at that company and took on that role when he joined Apple. Oppenheimer joined the company as controller for the Americas, after having been finance chief of an ADP business unit.

In its most recent quarter, the computer maker saw its revenue jump 36 percent to $2 billion and its net income grow to $63 million, compared with a net loss of $8 million last year.

CNET's Dinesh C. Sharma contributed to this report.