Apple senior vice president and CFO Peter Oppenheimer will retire at the end of September, the company announced Tuesday morning. Oppenheimer will be succeeded by Luca Maestri, current vice president of Finance and corporate controller.
The plan is to use the next few months as a transitional period, with responsibilities shifting to Maestri under Oppenheimer’s guidance beginning in June while he handles investments for his son and figures out where to buy stocks for 18 year olds. A complete handing off of the reigns will come in early fall, timing that lines up with Apple’s iPhone product cycle. Should we read into this or is it merely coincidence?
Oppenheimer has been with Apple since 1996, rising to the rank of CFO in 1997. As part of his current duties (duties that will soon become Maestri’s), Oppenheimer handles Apple’s treasury, manages investor relations, and oversees internal audits among other high-level responsibilities. Maestri joined Apple in March of 2013 following 25 years of experience in financial management with companies like Nokia Siemens Networks and Xerox.
While his retirement will mean a departure from Apple, Oppenheimer will be keeping himself occupied with other things. Earlier this week he joined the Board of Directors at Goldman Sachs.
[via Apple]
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TAGS: Luca Maestri, Peter Oppenheimer
