CUPERTINO, Calif. - Longtime Apple (AAPL) Chief Financial Officer Peter Oppenheimer will retire in September and will be replaced by the company's corporate controller.
The announcement Tuesday comes one day after Goldman Sachs (GS) named Oppenheimer as one of its 13 board members.
In a press statement Apple CEO Tim Cook said, "Peter has served as our CFO for the past decade as Apple's annual revenue grew from $8 billion to $171 billion and our global footprint expanded dramatically." Oppenheimer will begin transferring responsibilities to Luca Maestri in June.
"For quite some time, I have wanted to live on the central coast of California and get more involved at Cal Poly, my alma mater," said Oppenheimer, who aims to "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."
Cook says the company knew Maestri would ultimately succeed Oppenheimer when it recruited him as corporate controller a year ago. Maestri has more than 25 years of experience in senior financial management, having served as CFO at both Nokia Siemens Networks and Xerox.
Oppenheimer joined Apple in 1996 as controller for the Americas.