Peter Oppenheimer announces retirement from Apple
Apple's senior vice president and CFO Peter Oppenheimer announced today that he will retire from his position at the end of September. Luca Maestri, Apple's vice president of Finance and corporate controller, will succeed Oppenheimer as CFO and will report to Apple CEO, Tim Cook.
Oppenheimer started with Apple in 1996 as controller for the Americas. In 1997 he was promoted to vice president and Worldwide Sales controller, and then promoted to corporate controller prior to being named CFO. Under his watch as CFO, Apple's annual revenue has grown more than twentyfold.
“I love Apple and the people I have had the privilege to work with and after 18 years here, it is time for me to take time for myself and my family,” said Peter Oppenheimer. “For quite some time, I have wanted to live on the central coast of California and get more involved at Cal Poly, my alma mater; spend more time with my wife and sons; travel to interesting parts of the world; and something I have wanted to do for years— finish the requirements for my pilot’s license.”
Apple CEO Tim Cook commented, “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. 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.”
As for his successor, Luca Maestra began his career with General Motors and spend 20 years in finance and operating roles in the America, Asia Pacific and Europe. In his last role at GM, Luca was CFO for all of GM’s operations in Europe, which spanned over 45 countries with annual net revenue of approximately $40 billion.