Tag - Peter Oppenheimer
Apple has added Luca Maestri, its new chief financial officer, to the executive listings on its website. "As CFO, Luca oversees the accounting, business support, financial planning and analysis, treasury, M&A, investor relations, internal audit and tax functions at Apple. Luca joined Apple in 2013 as vice president of Finance and corporate controller, and has worked closely with Apple's senior leadership since his arrival," his bio reads.
In a surprise announcement, Apple has announced that its chief financial officer, Peter Oppenheimer, will retire at the end of September. His replacement will be Luca Maestri, currently the company's VP of Finance and its corporate controller, who handled portions of the previous quarterly results presentation. A transition period is set to begin in June.
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.
Apple's Chief Financial Officer Peter Oppenheimer may have at first seemed to be an unusual choice for hosting a sneak-peek at a very large 3D architectural model of Apple's forthcoming Campus 2, known already as "the Spaceship" three years before it is even planned to open -- but like his colleagues, Oppenheimer has a gift for selling dreams. Along with Senior Director of Real Estate and Facilities Dan Whisenhunt, the CFO gave reporters a tour of the model ahead of a Cupertino City Council vote.
Yesterday's meeting with Apple CEO Tim Cook was actually "a little testy," says investor Carl Icahn in a new CNBC interview. In a Twitter post today, Icahn had claimed that the meeting was "cordial." The pair are now said to have been joined by Apple CFO Peter Oppenheimer, and disputed whether or not shareholders should get involved in how Apple executives spend cash.
Apple CFO Peter Oppenheimer sold 37,172 shares of Apple stock on Wednesday, a new Securities and Exchange Commission filing shows. At an average share price of $440.31, the trade was worth approximately $16.4 million. The shares involved date back to November 2011, when Oppenheimer was granted them as part of a bonus. The sale followed a day after Apple's Q3 results; during that timespan, the company's stock shot up $20 in value.
Apple has posted the opening statements two of its executives -- CEO Tim Cook (PDF) -- and CFO Peter Oppenheimer (PDF) -- made during their testimony in front of the US Senate earlier today. The documents don't reveal anything new, but do constitute a record of Apple's stance during the Senate hearing. "We pay all of the taxes we owe -- every single dollar. We not only comply with the laws, but we comply with the spirit of the laws," Cook's statement reads.
In the wake of Apple's published testimony, US Senators Carl Levin (D-MI) and John McCain (R-AZ) have released their own joint statement on the work of the Senate Permanent Subcommittee on Investigations. "Apple Inc. has used a complex web of offshore entities -- including three foreign subsidiaries the company claims are not tax resident in any nation -- to avoid paying billions of dollars in U.S. income taxes," Levin's office writes.
Apple's Peter Oppenheimer was the highest-paid chief financial officer during 2012, according to Bloomberg. The executive received compensation worth a theoretical $68.6 million, roughly 16 times what Apple CEO Tim Cook received for the year. By comparison, Oppenheimer's closest competition -- Oracle CFO Safra Catz -- was given $51.7 million, while Google CFO Patrick Pichette was granted $38.7 million.
Four out of the top five highest-paid executives among Standard & Poor 500 companies belonged to Apple during 2012, according to the Securities and Exchange Commission filings seen by Bloomberg. The people included senior VP of Technologies Bob Mansfield, CFO Peter Oppenheimer, senior VP of Operations Jeff Williams, and general counsel Bruce Sewell. About 80 percent of S&P 500 companies had submitted 2012 data as of April 12. The figures for the Apple execs are based on the total current worth of their possible stock and pay packages, rather than their actual 2012 salaries and bonuses.
Now AAPL Stock: 99.86 ( -0.49 )
Atari, Sigfox partner for IoT development
Atari and Internet of Things pioneer Sigfox today announced a global partnership to develop a line of new connected devices based on Atari's brand. The collaboration will cover a wide range of new Atari products, with launch products covering "categories such as home, pets, lifestyle and safety" according to the pair. Development of the new product line will begin this year. http://bit.ly/1WvklfB
Samsung still not recommending Windows 10
Nearly a year after release, Samsung support is recommending that owners of its PCs not upgrade to Windows 10. In an email exchange with UK Samsung technical support and an individual in need of help getting Wi-Fi to work, the support representative wrote that "honestly speaking, we don't suggest installation of Windows 10 to any Samsung laptop or PC and we are still coordinating with Microsoft regarding to this matter" and "the Drivers that we have on our website are not yet compatible to the latest version of Windows." Samsung will update users when there are no more compatibility issues with Samsung hardware and Windows 10. Microsoft has no meaningful comment on the matter. http://bit.ly/1PgrJcx
T-Mobile offers 'tourist' plan
A new plan from T-Mobile is launching on June 12, and will offer visitors to the US a flat-rate $30 plan that offers a free US SIM, 2GB of high-speed data, and 1,000 minutes of calls good for a three-week period. The plan will work with any unlocked GSM-compatible smartphone, and is advertised as "unlimited" data (but speed will slow down after the first 2GB). The plan does not automatically renew, but can be manually renewed for those staying longer. It also comes with unlimited international texting to some 40 countries, but does not offer any international talk minutes at all. http://t-mo.co/1TI1Pe9
First hardware RAID 10Gbps USB 3.1 controllers
Marvell today announced the Marvell 88RC13xx family of high-performance RAID storage controllers with a full set of features that include eight 6Gbps SATA ports, four lanes of PCI Express 3.0, and a 10Gbps USB 3.1 device port with Type-C connector support. The move paves the way for high-performance USB-C UASP hardware RAID multi-drive arrays, utilizing the full bandwidth of USB 3.1. http://bit.ly/1P0JBmb
Tama debuts adapters for Lightning-only iPhone
Predicting an iPhone without a standard 3.5mm headphone, a Chinese accessory maker has released three Lightning-to-headphone-adapters ready should Apple pull the trigger on what would be a controversial decision. The three adapters, picked up by Macotakara, includes two models that simultaneously support charging an iPhone over microUSB while the user also continues to listen to music. Rumors have suggested that Apple will eventually drop the 3.5mm jack on one of its next-generation iPhones, although it is not clear whether it will be in the 'iPhone 7,' due this year, or a future model. In the interim, the Tama Electric Lightning-to-headphone adapters offer little particular utility. http://bit.ly/1P0sYXM
French Google tax raid evaluation could take years
The data retrieved from the Paris raid on Google's headquarters by French police could take months or even years to analyze, according to a prosecutor assigned to the case. Authorities seized dozens of files and related data that recorded Google's financial transactions in the country with a view to lodging a claim for unpaid taxes by the Internet search giant. Although Google has denied any wrongdoing, it must complete all of its sales contracts in Ireland, where it is incorporated. If French authorities sifting through the documents seized in the raids discover that any of its French sales transactions were completed locally, it could be subject to further action, including fines. http://reut.rs/1P0n8G2
Trade-up program expands in Europe
Smartphone users in France, Italy, and Spain will have until at least August of this year to trade in old iPhone, Windows Phone, or Android models at Apple Stores, and put the reward towards a new iPhone -- thanks to an expansion of Apple's trade-in program into those countries. The money given for the trade-in must be applied towards a new iPhone on a two-year payment plane, and traders must qualify under a credit check as part of the program. Interested customers can apply for the trade-in at their nearest Apple Store. http://bit.ly/1qPsldD