“Apple Inc. approached Blackstone Group LP Chief Financial Officer Laurence Tosi to become its finance chief, three people with knowledge of the matter said,” Bradley Keoun, Jason Kelly and Adam Satariano report for Bloomberg.
“Tosi told Blackstone CEO Stephen Schwarzman that he plans to stay, rather than join Apple, said two of the people, who asked not to be identified because the talks were private,” Keoun, Kelly and Satariano report. “Steve Dowling, a spokesman for Apple, said the company is ‘not conducting a CFO search.’ Current CFO Peter Oppenheimer ‘loves the company and is extremely happy in his role,’ Dowling said.”
“Oppenheimer, who has been with Apple since 1996, didn’t respond to a request for comment… In October, Jobs said that the company has a good track record of using its cash and is reserving it for one or more ‘strategic opportunities,'” Keoun, Kelly and Satariano report. “A new CFO will have “a lot of money to spend,” said Giri Cherukuri, a portfolio manager at Oakbrook Investments LLC in Lisle, Illinois, which holds Apple shares. ‘They have a big cash pile that you need to decide what do with.'”
Keoun, Kelly and Satariano report, “Tosi, 42, would have brought Apple more experience with corporate acquisitions. Blackstone, the world’s largest private equity firm, made more than 30 purchases last year, according to Bloomberg data. Apple made four, the data show. Tosi previously worked for Merrill Lynch & Co. and the business channel CNBC. He’s been Blackstone’s CFO since September 2008.”
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