updated 11:14 am EST, Mon March 3, 2014
Joins controversial financial firm
Apple's chief financial officer, Peter Oppenheimer, has joined the board of directors for financial firm Goldman Sachs, according to the latter's website. The appointment won't affect Oppenheimer's status at Apple, but is somewhat unusual in that the position isn't related to product interests. CEO Tim Cook, for example, is the on the Nike board; Internet head Eddy Cue is on the board of Ferrari, which was recently announced as a CarPlay partner.
The position could generate some small controversy, since Goldman Sachs was directly implicated in the subprime mortgage crisis of 2007 and 2008. The firm also paid bonuses worth at least $1 million each to 953 executives in 2008, despite having received a $10 billion bailout from the US government.
As part of the Goldman Sachs board, Oppenheimer will participate in its Audit, Risk, Compensation and Corporate Governance, and Nominating and Public Responsibilities committees. The company notes that he has some 25 years of experience, including multiple financial positions at Apple, and a divisional CFO role at ADP (Automatic Data Processing).