Apple today announced that long-time CFO Peter Oppenheimer is set to retire at the end of September. Succeeding Oppenheimer will be former Nokia and Xerox CFO Luca Maestri, who joined Apple as a VP of Finance and corporate controller back in March of 2013.
The press release reads in part:
“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.”
As for Oppenheimer's plans post-Apple, he certainly isn't for want of things to do. The press release indicates that Oppenheimer, in addition to spending more time with his family, has plans to finish his pilot's license, travel the world, and get more involved with Cal Poly, his alma mater.
News of Oppenheimer's departure comes just one day after the CFO joined the board of directors at Goldman Sachs. While Steve Jobs was famously opposed to having executives serve on the board of other companies (with Tim Cook's position at Nike being the exception to the rule), Tim Cook runs a looser ship in that regard. Recall that Apple executive Eddy Cue joined Ferrari's board of directors in Noember of 2012.