Apple's CFO to Retire -- Replaced by Former NSN Executive
Published on: 4th Mar 2014
Apple's long serving Chief Financial Officer is to retire from the company at the end of September the company has confirmed.
As CFO, Peter Oppenheimer oversaw the controller, treasury, investor relations, tax, information systems, internal audit and facilities functions. He started with Apple in 1996 as controller for the Americas, and in 1997 was promoted to vice president and Worldwide Sales controller and then promoted to corporate controller prior to being named CFO.
Peter has managed facilities expansion including the addition of four data centers and Apple's new campus in Cupertino, all of which will be powered by renewable energy.
"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. 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," said Tim Cook, Apple CEO.
"Peter is also a dear friend I always knew I could count on. Although I am sad to see him leave, I am happy he is taking time for himself and his family. As all of us who know him would have expected, he has created a professional succession plan to ensure Apple doesn't miss a beat."
He is being replaced in the role by Nokia Siemens Networks' (NSN) former Chief Financial Officer, Luca Maestri.
Maestri joined NSN as CFO in late 2008, and remained with the company until 2011 when he moved to Xerox. Maestri then joined Apple as vice president of Finance and corporate controller just last March.