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Apple’s Chief Financial Officer, Peter Oppenheimer, announced plans to retire later this year on Tuesday. He has been with the tech giant for 18 years.
The news was announced by Apple and CEO Tim Cook. The company’s vice president of Finance and corporate controller, Luca Maestri, will take the role when Oppenheimer leaves at the end of September.
Cook praised Oppenheimer and his contributions to the company, which produces the iPhone, iPad and Mac products. “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,” Cook said. “His contributions and integrity as our CFO create a new benchmark for public company CFOs.”
Oppenheimer is a well known name to those who cover Apple, as he took part in the quarterly earnings reports, notes The LA Times. During his tenure, Apple went from near bankruptcy to one of the most well-known brands in the world. Apple saw revenue jump from $8 billion to $171 billion.
While he has loved his time at Apple, Oppenheimer said he wished to spend more time with his family. “For quite some time, I have wanted to live on the central coast of California and get more involved at Cal Poly, my alma mater; spend more time with my wife and sons; travel to interesting parts of the world; and something I have wanted to do for years— finish the requirements for my pilot’s license,” he said.
According to PCWorld, Maestri joined Apple in March 2013 after leaving Xerox. At the time, observers saw it as a move by Apple to prepare for Oppenheimer’s retirement.
image courtesy of Wikimedia Commons