“While in many ways a CFO leaving is important I believe Apple has been laying the groundwork for a transition,” Jones writes. “Prior to the previous two earnings conference calls Gary Wipfler, Apple’s Treasurer, was usually the only other executive besides Oppenheimer and Tim Cook, Apple’s CEO, who were on the calls. Starting with the October 2013 call Luca Maestri, Apple’s Corporate Controller, has been on the calls and for the January 2014 conference call he handled questions about operating expenses and margins. Maestri joined Apple in February 2013 after being Xerox CFO and as a side note since then Apple has become much more aggressive with its stock buyback program.”
“Oppenheimer joined Apple in 1996, became its CFO in June 2004 and is 51 years old,” Jones writes. “Overall he has done a very good job growing the company and given the time commitments after ten years it would not surprise me to see him leave sometime this year and possibly at the shareholder meeting.”
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