You can now read 5 articles in a month for free on Read as much as you want anywhere and anytime for just 99¢.

Apple finance chief retiring in September



Peter Oppenheimer, Apple’s senior vice president and chief financial officer, will retire in September, after 18 years at the technology giant.

Luca Maestri, the company’s vice president of finance and corporate controller, who started at Apple last spring, will succeed Oppenheimer.

Continue reading below

Oppenheimer, who joined Apple in 1996, has been its chief financial officer for the past 10 years. Oppenheimer was awarded a $68.6 million compensation package in fiscal year 2012 and was the highest-paid of his financial officer peers that year, according to data compiled by Bloomberg News.

In a statement, Tim Cook, Apple’s chief executive, credited Oppenheimer with overseeing the company’s finances during a period of significant international expansion and revenue growth. Under his watch, revenues increased more than 2,000 percent to more than $170 billion, from $8 billion.

“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,” Oppenheimer said in a statement.

His successor, Maestri, who has deep international experience, previously worked as chief financial officer for both Nokia Siemens Networks and Xerox. Maestri will move into the chief financial officer role this summer, the company said, allowing for a smoother transition.

Loading comments...
Want each day's news headlines delivered fresh to your
inbox every morning? Just connect with us
in one of the following ways:
Please enter a valid email will never post anything without asking.
Privacy Policy
Subscriber Log In

You have reached the limit of 5 free articles in a month

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week
Marketing image of
Marketing image of