March 4, 2014: Peter Oppenheimer, the Apple chief financial officer who presided over a decade of skyrocketing growth, steps down from the company.
After becoming Apple CFO in 2004, Oppenheimer saw the company’s valuation soar from $8.8 billion to $471 billion. Luca Maestri, current Apple senior vice president and chief financial officer, replaced Oppenheimer in this crucial position.
Apple has today announced that Peter Oppenheimer, its senior vice president and chief financial officer, will retire at the end of September after 18 years with the Cupertino company. Oppenheimer will transition the role of CFO to Luca Maestri, Apple’s current vice president of finance and corporate controller.
Peter Oppenheimer doesn’t get a lot of the spotlight at Apple – unless you’re tuning into a quarterly earnings report – but the Apple CFO plays a huge role in Apple’s profitability and now he’ll be lending his talents to Wall Street by joining Goldman Sachs Board of Directors.
Goldman Sachs announced this morning that Oppenheimer will join the board immediately as an independent director of the firm:
Carl Icahn finally got his dinner date wish with Tim Cook last night, after the famous billionaire investor took to Twitter a few weeks ago to preach how Wall Street has seriously undervalued AAPL stock. Along with parading his optimism for Apple’s stock, Icahn purchased a major stake in AAPL stock and has been dying for Cupertino to issue more buybacks.
According to its investor’s page, Apple, Inc. will conference call with investors on July 23, 2013, discussing its financial performance for the fiscal third quarter of 2013, which ended June 30.
The call will be live streamed on Apple’s web page for anyone to listen in, and should cover revenue and sales figures. We can expect to hear from Tim Cook, CEO, and probably Peter Oppenheimer, CFO of Apple, both explaining the current performance as well as making some sort of financial forecast for the coming quarter, Q4 2013.
Apple has published the opening statements read by CEO Tim Cook and CFO Peter Oppenheimer earlier today at the U.S. Senate Subcommittee hearing on corporate taxes. The hearing lasted several hours and was televised live on CSPAN.
Senators like Carl Levin, John McCain, and Rand Paul were present to lead the committee and hear from industry experts. Apple was called to the stand to explain why it stores a large percentage of its billions in cash overseas.
U.S. Senator Rob Portman from Ohio has just raised a fascinating point at today’s Senate Sub-Committee Hearing to Examine Offshore Profit Shifting and Tax Avoidance by Apple Inc.
The American corporate tax system is so broken that Apple is at a competitive disadvantage against Samsung when it comes to the taxes it pays globally, and how easily it moves its money around.
Apple CEO Tim Cook and CFO Peter Oppenheimer are in Washington D.C. this morning to talk to a Senate subcommittee about Apple’s off-shore cash hoard. The Apple execs are expected to face a lot of heat surrounding Apple’s Irish subsidiary, through which Apple has funneled 64% of its earnings without paying any tax, yet has zero employees.
Before the hearing got underway though, Ireland’s deputy prime minister, Eamon Gilmore, issued a public statement which claimed Ireland isn’t to blame for Apple’s low tax bill, even though the country has become a tax haven for multinationals since the 1960s.
Four out of the five highest-paid executives in the United States work for Apple, Bloomberg Businessweek reports, but not one of them is CEO Tim Cook.
According to fiscal 2012 compensation figures for top earners filed with the U.S. Securities and Exchange Commission (SEC), Apple’s Bob Mansfield, Bruce Sewell, Jeffrey Williams, and Peter Oppenheimer join Oracle CEO Larry Ellison to make up the top five corporate earners last year.
Apple just posted one of their most successful financial quarters ever. A bunch of records were broken for iPad sales, iPhone sales, net revenue, and net profit.
Sorting through the pile of information and numbers Tim Cook and Peter Oppenheimer just gave us can make your head spin, so we’ve broken it down for you. Here are the most important numbers you need to know from today’s earnings call:
