Apple Senior VP & CFO Peter Oppenheimer to retire at the end of September

Yesterday, we posted about Peter Oppenheimer accepting a position on the Goldman Sachs Board of Directors. This morning, Apple announced that Oppenheimer would be retiring at the end of September. Luca Maestri will take his place.

Apple today announced that Peter Oppenheimer, Apple’s senior vice president and CFO, will retire at the end of September. Luca Maestri, Apple’s vice president of Finance and corporate controller, will succeed Peter as CFO reporting to Apple CEO, Tim Cook. Peter will transition the CFO role to Luca in June and the balance of his responsibilities over the remaining time allowing for a professional and seamless transition.

“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.”

“Luca has over 25 years of global experience in senior financial management, including roles as a public company CFO, and I am confident he will be a great CFO at Apple,” added Tim. “When we were recruiting for a corporate controller, we met Luca and knew he would become Peter’s successor. His contributions to Apple have already been significant in his time with us and he has quickly gained respect from his colleagues throughout the company.”

“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.”



  • http://twitter.com/matthewwanderer matthew

    This might sound like hyperbole, but in my opinion, Oppenheimer is the gold standard for professionalism, deep understanding of his material, and delivering just the right amount of passion.

    As a s/h I do not like this development, and I’m concerned about his replacement. On a realistic level, however, things change.