Apple CFO Oppenheimer to retire: His tenure by the numbers

Apple CFO Oppenheimer to retire: His tenure by the numbers

Summary: Apple CFO Peter Oppenheimer will retire at the end of September to be replaced by vice president of finance Luca Maestri. Here's a look at the financials during Oppenheimer's tenure.


Apple said Peter Oppenheimer, chief financial officer, will retire Sept. 30 and be replaced by Luca Maestri, currently corporate controller and vice president of finance.


Oppenheimer, a regular on Apple's earnings conference calls, was at the helm for the last decade. Oppenheimer was credited with managing Apple's facilities expansion including the company's four data centers and new campus.

Maestri will start transitioning to CFO in June. Oppenheimer plans to devote more time "for myself and my family," travel and get a pilot's license.

Maestri was hired in part to be a potential successor to Oppenheimer, said Apple CEO Tim Cook. Maestri, hired in March 2013, had been CFO at Nokia Siemens Networks and Xerox and already managed many of Apple's financial operations. Maestri was also a veteran at General Motors and was CFO in Brazil, Argentina and Europe for the automaker.

As for Oppenheimer, the financials behind Apple are stunning. Oppenheimer can't take all the credit for the numbers that follow, but was a key part of the larger team led by Steve Jobs and Cook. To wit:

  • $8 billion: Annual revenue when Oppenheimer was named CFO.
  • $171 billion: Annual revenue today. 
  • $40.7 billion: Cash, cash equivalents and short term marketable securities on hand as of Dec. 28. 
  • $10.5 billion: Dividends paid in fiscal 2013. 
  • $28 billion: Stock repurchased as of Dec. 28 under a $60 billion buyback program. 
  • 4,834: Shares owned by Oppenheimer according to Apple's proxy.
  • $2,551,191.84: Value of those shares as of Monday's closing price. 
  • 175,000: Unvested restricted stock units held by Oppenheimer. 
  • $2,632,852: Oppenheimer's total compensation in fiscal 2013.
  • $68,591,562: Oppenheimer's total compensation in fiscal 2012.

And the 10-year stock chart.


Topics: CXO, Apple

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  • Peter Oppenheimer

    That is an incredible resume. Peter was the CFO of a company that in 10 years went from 8B revenue to 171B revenue. Incredible. I wonder if he will stay retired or will take over as a CEO somewhere. I understand that he will be on the Board of Directors at Goldman Sachs. But if some high potential startup offered Peter the helm would he take it? My guess is Yes.
    • Lucky

      Got to admit he sure did catch a wave of great luck with the early innovative products from Apple back in 2004-2207 time frame, combined with his CFO expertise, and the opening of a new mobile device market. Perfect storm in a way. This guy was no doubt blessed form above. I would hate to be the next guy trying to fill his shoes.
      Sean Foley
      • 2004-2207 time frame?

        So Apple DOES have a time traveler!
  • If Mr. Oppenheimer's replacement doesn't pan out then

    I'm afraid a strong possibility exists that 'Luca will sleep with the fishes.' Sorry, couldn't resist. :-)
  • Maybe they shouldn't have dropped his wage?

    According to the article:

    •$68,591,562: Oppenheimer's total compensation in fiscal 2012.
    •$2,632,852: Oppenheimer's total compensation in fiscal 2013.

    If my pay was dropped by $66M in a year; I think I'd consider retirement too!

    I'm guessing that's a typo.

    But really, why not retire - what are you going to spend all that on?

    You can't take money with you when you die.