Luca Maestri takes over as Apple CFO as Peter Oppenheimer steps down

Luca Maestri takes over as Apple CFO as Peter Oppenheimer steps down

Peter Oppenheimer formally stepped down as Apple's Chief Financial Officer this week, with vice president of finance and corporate controller Luca Maestri succeeding him in that position. The transition was originally announced in March of this year. Oppenheimer was at Apple for eighteen years, having joined the company in 1996, and was CEO for the last eight years. Maestri took over the CFO position on May 29, according to Apple's SEC filing.

In addition to his new responsibilities as CFO, Maestri will continue to act as Apple's Principle Accounting Officer. He is being awarded 6,337 shares of company stock, which at this time is valued at a little more than $4 million, according to a second SEC filing, and will be given a salary of $1 million per year. We first heard from Maestri during Apple's Q1 2014 conference call. Maestri has previously worked at both Xerox and General Motors.

What do you think of this transition? Let us know below in the comments.

Source: SEC filings (1), (2)

Joseph Keller

Joseph Keller is a news reporter for iMore. He's also chilling out and having a sandwich.

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There are 8 comments. Add yours.

chrl98 says:

"...and was CEO for the last eight years" Should be CFO, not CEO.

jo345 says:

Worked at general motors? Shoot, I hope apple doesn't end up like gm did; having to be bailed out by the government and plagued with recalls (and a s**t resale value).

However, I do hope he does well. Apple doesn't tend to hire second class executives. Congratulations on the new position Luca!

BongBongOnTwitter says:

He's Chief FINANCIAL Officer, not the head of design.

Harumph says:

I wish him well, but I concerned to see another long-time Apple exec leave.

theREALtechdaddy says:

With the exception of Browett (I'll give Tim Cook a mulligan on that) the hires under Tim Cook seem to be promising. We shall see.

Rene Ritchie says:

Oppenheimer did fantastic work. The iPhone is probably the biggest business any of us will see in a decade. It's time for his family to enjoy themselves and all the money they've earned.

Maestri comes into a company as successful as any in the world, yet one continuously viewed as doomed by the market and traditional media. That's a huge challenge and one Maestri looks primed for.

Welcome Luca Maestri and salute!

chrl98 says:

"...and was CEO for the last eight years" Should be CFO, not CEO.