It is rumored that Peter Oppenheimer, the current CFO of Apple, is likely to announce his retirement on February 28. Here’s what you should know about Oppenheimer and his time at Apple.
1. Oppenheimer May Announce Retirement at Shareholder Meeting
Don’t be surprised if Apple CFO Peter Oppenheimer announces his retirement at Friday’s shareholder meeting http://t.co/OdcF0S6riG
— MacDailyNews (@MacDailyNews) February 27, 2014
Apple is having a shareholder meeting on Friday, February 28. It is rumored that Oppenheimer will make his retirement announcement there.
Forbes contributor Chuck Jones is a big proponent of this rumor, and he has some compelling evidence to back up the theory that Oppenheimer is on his way out.
“I believe Apple has been laying the groundwork for a transition. Prior to the previous two earnings conference calls Gary Wipfler, Apple’s Treasurer, was usually the only other executive besides Oppenheimer and Tim Cook, Apple’s CEO, who were on the calls.
Starting with the October 2013 call Luca Maestri, Apple’s Corporate Controller, has been on the calls and for the January 2014 conference call he handled questions about operating expenses and margins.”
2. Oppenheimer Has Been With Apple For Nearly 2 Decades
Pictured above, (L-R) Apple’s head of tax operations Phillip Bullock, Apple CEO Timothy Cook and Apple Senior Vice President and CFO Peter Oppenheimer.
According to his Apple profile, Oppenheimer started with Apple in 1996 as controller for the Americas. Since 2004, he has held the position of CFO.
3. Luca Maestri Likely to Replace Oppenheimer
[Mac Rumors] Apple's New Corporate Controller Luca Maestri Receives Stock Rights Worth $15 Million: Former Xer… http://t.co/s2MhUi08cK
— Apple News (@apple_live) April 27, 2013
Luca Maestri, Apple’s Corporate Controller, is considered the top contender to replace Oppenheimer as CFO. However, no official announcement has been made.
The Next Web reports that Maestri previously worked for Xerox as their CFO. He also worked for General Motors for over 20 years.
4. Oppenheimer’s Responsibilities as CFO
Apple's CFO says that 80% of iOS devices are now on iOS 7 http://t.co/2EWjRkLAJY
— CNET (@CNET) January 28, 2014
According to Oppenheimer’s profile on Businessweek, his duties as Apple’s CFO were varied. “Mr. Oppenheimer oversees the controller, treasury, investor relations, tax, information systems, internal audit and facilities functions,” the profile notes.
5. Oppenheimer Was a Frat Boy
Oppenheimer is seen in the video above testifying before the Senate Permanent Subcommittee on Investigations in Washington about U.S. tax policy in 2013. Oppenheimer testified alongside Tim Cook.
According to his Wikipedia page, Oppenheimer was a member of the Alpha Gamma Rho fraternity. Oppenheimer got his bachelor’s from California Polytechnic State University, San Luis Obispo.
Other Alpha Gamma Rho frat members of note include popcorn magnate Orville Redenbacher, Texas Governor Rick Perry, and Nobel Peace Prize winner Norman Borlaug.