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.