GADGET DESIGNER Apple's CFO Peter Oppenheimer has announced that he will retire in September after 18 years at the company.
Oppenheimer, 51, joined Apple in 1996 and became CFO eight years later. Today, Oppenheimer announced that he will retire from his position at Apple at the end of September, with Luca Maestri, Apple VP of Finance and ex-CFO at Nokia Siemens, set to take over the CFO role in June.
During his time looking after Apple's cash, Oppenheimer has seen Apple's annual revenues grow from $8bn to $171bn, growth driven by the launch of the iPod, iPhone and most recently the iPad.
Oppenheimer said in a statement, "I love Apple and the people I have had the privilege to work with and after 18 years here, it is time for me to take time for myself and my family.
"For quite some time, I have wanted to live on the central coast of California and get more involved at Cal Poly [California Polytechnic State University], my alma mater; spend more time with my wife and sons; travel to interesting parts of the world; and something I have wanted to do for years - finish the requirements for my pilot's license."
Oppenheimer also revealed that yesterday he joined the Goldman Sachs board of directors.
Tim Cook added, "[Peter's] contributions and integrity as our CFO create a new benchmark for public company CFOs.
"Peter is also a dear friend I always knew I could count on. Although I am sad to see him leave, I am happy he is taking time for himself and his family. As all of us who know him would have expected, he has created a professional succession plan to ensure Apple doesn't miss a beat.
"Luca has over 25 years of global experience in senior financial management, including roles as a public company CFO, and I am confident he will be a great CFO at Apple," Cook added. µ
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