Technology

Luca Maestri to Become the New Apple CFO

It has been reported that Luca Maestri will become the new CFO at Apple, replacing Peter Oppenheimer. 

The reason for this change is not the firing of Peter Oppenheimer, but actually the chief financial officer and the senior vice president of Apple plans on retiring in September. Oppenheimer has been with Apple in the past 18 years. 

If Oppenheimer will retire after a career of no less than 18 years at Apple, on the other hand, Luca Maestri has been with the company only since last spring. Since then, Maestri has served as the vice president for finance and corporate controller of Apple. 

Oppenheimer is without a doubt a valuable person at Apple, who managed to do a great job handling the finances of the technology giant. He started as controller at Apple back in 1996. It is believed that thanks to this man, Apple set up subsidiaries all over the world with the purpose to legally avoid paying huge amounts of money as taxes in the US. 

Oppenheimer has been responsible with handling Apple’s finances over a period in which the company saw an amazing growth. Revenue has increased for Apple in the last 10 years with more than 2000 percent, from $8 billion to the impressive sum of $171 billion. 

For his work, Oppenheimer received good compensation while working at Apple. He even got more than Timothy D. Cook, Apple’s chief executive. And even though the chief financial officer of Apple says that the time he spent at Apple was great, the moment has come to leave 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,” Oppenheimer said in a statement. 

It is yet to see if Maestri will receive the same appreciation as Oppenheimer and if he will be able to do a great job in this new role. Maestri spent no less than 20 years at General Motors, but he also held the position of chief financial officer for Nokia, Siemens Networks and Xerox.

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