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  • Oppenheimer News Fails to Rattle Wall Street, Investors


    Shares of Apple are actually climbing today despite news that longtime Apple CFO Peter Oppenheimer has announced his forthcoming retirement.

    Undaunted, traders aren't expressing any apprehension with regard to the looming transition at Apple from Peter Oppenheimer to Luca Maestri, Apple's current vice president of finance and corporate controller.

    "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," Apple CEO Tim Cook said in a statement Tuesday.

    Apparently, Wall Street shares Cook's optimism, as an AAPL sell-off didn't accompany news today that Apple's well-respected steward of its financial destiny is departing in September.

    "Though he's only been at Apple for a year, Maestri already appears to have had a large impact on its finances," Jacob Kastrenakes of The Verge noted. "In particular, Maestri is believed to be one of the driving forces behind Apple's recent and uncharacteristically large stock buybacks."

    If smart, young, and aggressive are the words most commonly used to describe Apple's next CFO, optimism should continue to abound, as these are the exact ingredients market watchers and analysts believe Apple needs more of today.

    Source: The Verge
    This article was originally published in forum thread: Oppenheimer News Fails to Rattle Wall Street, Investors started by Michael Essany View original post
    Comments 1 Comment
    1. bigboyz's Avatar
      bigboyz -
      If Apple ever was a "one man show" those days are over. I think the analysts know this better than anyone. While this statement may have been arguable when Steve was alive..well you get the point.