Apple’s chief financial officer to step down in September

Apple's senior vice president and chief financial officer Peter Oppenheimer is to step down at the end of September, retiring after 18 years with the tech firm.

Mr Oppenheimer will hand over the role he has held for 10 years to Apple's current vice president of finance and the firm's corporate controller Luca Maestri.

Apple chief executive Tim Cook said the outgoing CFO had created a new benchmark for the industry.

“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,” he said. “ His guidance, leadership and expertise have been instrumental to Apple’s success, not only as our CFO but also in many areas beyond finance, as he frequently took on additional activities to assist across the company.”

Mr Oppenheimer will retire in September, leaving Mr Maestri to take up the role following a transition period that will begin in June. The new CFO has more than 25 years experience in senior financial management, Apple said, and has previously held CFO roles with both Nokia Siemens Networks and Xerox. He has managed most of Apple's financial functions.

“When we were recruiting for a corporate controller, we met Luca and knew he would become Peter’s successor,” said Mr Cook. “ His contributions to Apple have already been significant in his time with us and he has quickly gained respect from his colleagues throughout the company.”