Apple Inc. (NASDAQ: AAPL) has announced that Peter Oppenheimer will retire as the tech giant’s chief financial officer. This is being called an orderly and planned transition, and the retirement date is being set all the way out at the end of September. Luca Maestri, who is Apple’s vice president of Finance and corporate controller, will replace Oppenheimer as CFO.
Source: JoeInQueens, via Wikimedia Commons
Any time a CFO retirement comes up, it can create change inside a company. Reporting can look different, opinions on how to return capital to shareholders — buybacks, dividends or even growth acquisitions — can all come with a different set of eyes.
Apple said that Oppenheimer will transition the CFO role to Maestri starting in June. The balance of his responsibilities will take place over the remaining time, which Apple says will allow for a professional and seamless transition.
Maestri has more than 25 years of experience in senior financial management, and he was previously CFO of Xerox before joining Apple in 2013.
Again, it is this fresh set of views that could change the way things are handled on the money side of Apple ahead. Perhaps Maestri can convince Tim Cook to be a bit more aggressive financially. Maybe.
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