Apple CFO Peter Oppenheimer to Retire This Year

Apple today announced that Peter Oppenheimer, the company’s senior vice president and chief financial officer, will retire at the end of September.

Luca Maestri, Apple’s vice president of finance and corporate controller, will succeed Peter and report to CEO Tim Cook, according to the company.

Apple says that Peter will transition the CFO role to Luca in June.

“[Peter’s] 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 Cook. “His contributions and integrity as our CFO create a new benchmark for public company CFOs.”

Oppenheimer 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. He says in retirement he is going to become more involved with his alma mater and family. He will also travel more and complete his pilot’s license.

“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,” noted Oppenheimer.

Prior to joining Apple, Luca was CFO at both Nokia Siemens Networks and Xerox. He began his career with General Motors and spent 20 years in finance and operating roles in the Americas, Asia Pacific and Europe. Maestri graduated from Luiss University in Rome with a bachelor’s degree in Economics and received a master’s degree in Science of Management from Boston University.

“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 Cook. “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.”