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

June 2, 2014

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)