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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.