Apple on Tuesday announced that Peter Oppenheimer, the company’s senior vice president and chief financial officer, will retire at the end of September handing over the reins to the company’s current vice president of Finance and corporate controller, Luca Maestri.
The 51 year old Oppenheimer joined Apple in 1996 and had been CFO since 2004. He began his career working in finance and operating roles with General Motors for 20 years and also served as CFO of Nokia Siemens Networks and Xerox.
Apple chief executive Tim Cook announcing Oppenheimer’s retirement said “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.”
“Peter is also a dear friend I always knew I could count on.” During Oppenheimer’s tenure, Apple annual revenues grew from $8 billion to $171 billion.
In a note to media, Apple said the transition process will be seamless one with Oppenheimer to handover the CFO role to Luca in June and the balance of his responsibilities over the remaining time.
Oppenheimer said in a statement that he was retiring to spend more time with his family. “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,” said the outgoing CFO.
“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.”
Oppenheimer’s retirement comes after he was named to the board of Goldman Sachs Group Inc on Monday.
The Cupertino Company’s stock price rose $3.34, or 0.6%, to $531.10 in pre-market trading.
