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Apple Announces September Retirement of CFO Peter Oppenheimer

Tuesday March 4, 2014 5:49 am PST by Kelly Hodgkins
peteroppenheimer.pngApple today announced the retirement of Chief Financial Officer Peter Oppenheimer. Oppenheimer will leave Apple in September of this year and will be succeeded by Luca Maestri, Apple’s vice president of Finance and corporate controller. This change in executive leadership comes one day after Goldman Sachs announced that Oppenheimer would be joining the banking firm's board of directors.
“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. His contributions and integrity as our CFO create a new benchmark for public company CFOs,” 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.”
Oppenheimer joined Apple in 1996 as the Senior Director of Finance and Controller and was promoted several times before being appointed Chief Financial Officer in 2004. During his 18 years with Apple, Oppenheimer helped the company build a strong balance sheet, while expanding its data and corporate facilities in the US and acquiring key technology to drive innovation.

Luca Maestri joined Apple in March 2013, after serving as the Chief Financial Officer at both Nokia Siemens Networks and Xerox. His 25-year career has spanned the globe with various leadership roles within General Motors bringing him to Asia Pacific, South America and Europe.


Tag: Peter Oppenheimer
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apple_iBoy
65 months ago

I would love to know how much Goldman Sachs is paying him to leave.


It's a perspective I think I'll never have. So when he dies, maybe there will be another zero at the end of his bank account balance?

Maybe I'm just lazy, but if I ever managed to save a small fraction of what these high level execs pull in, I would retire. I mean RETIRE retire, not retire and go on to some other position elsewhere.

Think of it. All the resources you'd need to have a lovely home(s), travel wherever you wanted, and be generous to your loved ones and any charitable causes that struck your fancy.

Unless being a comptroller THRILLED me to death, I would be out and done years ago to enjoy the years I have on earth and explore every nook of the planet.
Rating: 16 Votes
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edtechguru
65 months ago
What a ride

Think about this guys experience at apple. When he took the job with Apple in 96 he came into a sinking company. Friends and colleagues probably thought he was nuts. Now he leaves when Apple is at the top of world finance. Pretty amazing really.
Rating: 15 Votes
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Kariya
65 months ago
Don't think money is really the issue for any Exec that leaves Apple. They have a boatload already.
Rating: 12 Votes
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Steve121178
65 months ago

I would love to know how much Goldman Sachs is paying him to leave.


Not really anyone's business, is it.
Rating: 10 Votes
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MacVista
65 months ago
I am glad he is. Goldman Sucks is not compatible with Apple.
Rating: 7 Votes
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thekeyring
65 months ago
From now on, whenever there's any bad financial news for Apple, are we allowed to comment 'Peter would never have allowed this!' ?
Rating: 7 Votes
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joelisfar
65 months ago
So now everybody will be all “this wouldn't have happened if Peter were still here”.
Rating: 7 Votes
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luckydcxx
65 months ago

DOnt think money is really the issue for any Exec that leaves Apple. They have a boatload already.


It's always about the money, I don't think he is trying to make a name for himself.

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Not really anyone's business, is it.


It might not be my business but I would still love to know.
Rating: 6 Votes
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tbrand7
65 months ago

I would love to know how much Goldman Sachs is paying him to leave.


He's on the board of directors. That is not a full time job. Even so, board of directors usually don't get paid. If he is getting paid, it won't even be close to a fraction of what he was making at Apple. Besides, as I said, being on the board of directors is not a full time job. Tim Cook is on the board of directors at Nike, yet he still finds time to run Apple :)
Rating: 5 Votes
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Reason077
65 months ago
He's leaving to spend more time with his family.

Rating: 4 Votes

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