Apple’s Peter Oppenheimer to Retire at the Finish of September
CUPERTINO, California—March 4, 2014—Apple® today introduced that Peter Oppenheimer, Apple’s senior vice president and CFO, will retire at the conclusion of September. Luca Maestri, Apple’s vice president of Finance and company controller, will triumph Peter as CFO reporting to Apple CEO, Tim Cook dinner. Peter will changeover the CFO job to Luca in June and the harmony of his obligations more than the remaining time permitting for a experienced and seamless transition.
“Peter has served as our CFO for the previous ten years as Apple’s yearly income grew from $8 billion to $171 billion and our worldwide footprint expanded significantly. His advice, leadership and abilities have been instrumental to Apple’s success, not only as our CFO but also in lots of places beyond finance, as he often took on more routines to aid throughout the organization. His contributions and integrity as our CFO generate a new benchmark for general public enterprise CFOs,” explained Tim Cook, Apple CEO. “Peter is also a expensive good friend I normally knew I could depend on. While I am unhappy to see him go away, I am delighted he is taking time for himself and his family members. As all of us who know him would have predicted, he has produced a specialist succession strategy to make sure Apple doesn’t overlook a conquer.”
“Luca has more than 25 many years of world-wide experience in senior money management, such as roles as a community organization CFO, and I am confident he will be a good CFO at Apple,” added Tim. “When we ended up recruiting for a corporate controller, we achieved Luca and realized he would turn out to be Peter’s successor. His contributions to Apple have presently been sizeable in his time with us and he has quickly gained respect from his colleagues through the organization.”
“I like Apple and the men and women I have had the privilege to perform with and following 18 many years in this article, it is time for me to choose time for myself and my family members,” stated Peter Oppenheimer. “For very some time, I have preferred to dwell on the central coastline of California and get extra concerned at Cal Poly, my alma mater spend additional time with my wife and sons vacation to exciting areas of the world and one thing I have required to do for years— end the needs for my pilot’s license.”
As CFO, Peter oversees the controller, treasury, investor relations, tax, facts programs, inside audit and services functions. He started off with Apple in 1996 as controller for the Americas, and in 1997 was promoted to vice president and Worldwide Income controller and then promoted to company controller prior to currently being named CFO. As Apple’s once-a-year revenue has developed extra than twentyfold during his time as CFO, Peter has overseen improvement of a disciplined international money approach, sturdy programs and methods, and a quite robust stability sheet. Beneath his leadership, Apple has created a entire world-course finance workforce. Peter has managed facilities growth like the addition of four knowledge facilities and Apple’s new campus in Cupertino, all of which will be powered by renewable power.
Peter also recently joined the Board of Directors of Goldman Sachs.
Luca has deep information in all of the big factors of finance with around 25 a long time of practical experience creating and main finance teams in world businesses with considerable running scale and complexity. Prior to joining Apple, Luca was CFO at each Nokia Siemens Networks and Xerox. Because joining Apple in March 2013, Luca has managed most of Apple’s economical features and completed an great occupation leading them, though also performing intently with Apple’s senior leadership.
Luca commenced his occupation with Standard Motors and used 20 decades in finance and running roles in the Americas, Asia Pacific and Europe. Though at GM, Luca experienced a lot of substantial assignments developing and functioning the enterprise. He was part of the staff that recognized GM’s regional functions in Asia Pacific, including manufacturing investments in China and Thailand. He was afterwards CFO of the workforce that restructured functions in Brazil and Argentina and returned the location to profitability. His very last position at GM was CFO for all of GM’s operations in Europe, which spanned more than 45 nations with once-a-year internet revenue of close to $40 billion.
Luca has an exceptionally broad intercontinental history, with time used residing and doing work in Italy, Poland, Eire, Switzerland, Singapore, Thailand, Brazil and Germany, as properly as the U.S.
Luca graduated from Luiss College in Rome with a bachelor’s degree in Economics and received a master’s diploma in Science of Administration from Boston College.