Is Apple Looking for New Finance Chief?

By

peter_oppenheimer-e12944072216131.jpg

Apple reportedly is looking for a new a new finance chief. Although the tech giant denies it is shopping to replace current CFO Peter Oppenheimer, a Thursday news report suggests the Cupertino, Calif. company is seeking someone with more experience acquiring other firms.

Laurence Tosi, Oppenheimer’s counterpart at private equity firm Blackstone Group was approached by Apple, but has turned down the offer, according to Bloomberg News, citing “three people with knowledge of the matter.” Blackstone is the largest private equity firm, purchasing 30 companies in 2010.


Apple is “not conducting a CFO search” and Oppenheimer “is extremely happy in his role,” spokesperson Steve Dowling responds. Oppenheimer became Apple’s finance chief in 2004 after the company removed Fred Anderson in 2004.

Both Oppenheimer and Chief Operating Officer Tim Cook have been mentioned as potential replacements for current Apple CEO Steve Jobs. However, Cook is viewed as being favored to replace Jobs, whose health issues have created debate about a successor.

With more than $25.6 billion in cash, the technology giant is often seen as looking for takeovers. In September 2010, Jobs noted this, telling reporters Apple is seeking “strategic opportunities.”

[Bloomberg, 9to5Mac]

Newsletters

Daily round-ups or a weekly refresher, straight from Cult of Mac to your inbox.

  • The Weekender

    The week's best Apple news, reviews and how-tos from Cult of Mac, every Saturday morning. Our readers say: "Thank you guys for always posting cool stuff" -- Vaughn Nevins. "Very informative" -- Kenly Xavier.