“Apple talked with Tosi about becoming its CFO, three people familiar with the situation said yesterday,” Satariano and Keoun report. “Tosi told Blackstone Chief Executive Officer Stephen Schwarzman that he plans to stay put, two of the people said.”
“Tosi, 42, would have brought a background in corporate acquisitions,” Satariano and Keoun report. “Blackstone, the world’s largest private-equity firm, made more than 30 purchases last year, compared with four for Apple, according to Bloomberg data.”
Satariano and Keoun report, “The finance chief at an electronics maker such as Apple would also have to handle such complicated tasks as managing a manufacturing supply chain. That mastery would only come from experience at another technology hardware company, said Brian Marshall, an analyst at Gleacher & Co. in San Francisco. Apple’s approach to Tosi is therefore a ‘head scratcher,’ Marshall said.”
Full article here.
MacDailyNews Take: Since we do like to Think Different™, let’s take a peek outside the box: Who says you can’t have multiple people focused on specific things? Perhaps Apple doesn’t need a new CFO, but wants to add a new M&A chief? Nobody who’s actually worth the offer would give a rat’s ass about the title, they’d jump at the chance to get into the greatest company on earth and start rocking the world alongside Steve Jobs.
may portend = definitely portends.
Please note that Apple never said they were not talking to him about a job. Just not the CFO position
What’s with the $25b “cash on hand” figure? What happened to the other $24B?
They may have been talking about his being the Offensive Coordinator of Apple Finance, rather than the Coach.
Seems there’s a lot more going on in Apple Corp than anyone outside of the inner sanctum understands or “portends”.
Apple should recruit Pelosi to the CFO job. She’ll burn through $51 billion in next to no time.
I thought Apple hired an M&A guy last year.
As for the cash, usually cash and treasury-like securities are buried in Short-Term. Apple started to shift half of their cash into Long-Term treasury-like securities over a year ago. A superficial look at Apple’s financials could easily miss that half of Apple’s cash or cash-like instruments are Long-Term.
Speaking of Apple looking to aquire any other company I see only one suitable canidate out there.
Depending on the strength and length if Netflix’s deals with Studios
They could be the golden Goose especially if management was included
Netflix is an intriguing option. Its market cap though is close to $10 billion, and Apple prefers smaller companies. Apple’s new NC site could certainly host our Netflix instant downloads, but would conflict with iTunes rentals. There’s also, no doubt, concern that the studios happily working with Netflix would balk about ceding yet more power to Apple. So I don’t see it happening.
@KenC,
Nahh, just a bunch of lawyers to look at contracts.
No real “chief” yet. Yet.
@Raymond in DC,
At face value Apple acquiring NetFlix makes sense until you realize that all the movie studios’ contracts with NetFlix become null and void upon any acquisition.
I agree it would be a huge deal the very type Apple has claimed to be horsing their pot of gold for. It would be worth it considering Netflix 150,000 titles. If the deals Netflix brokered with the studios are strong enough and can be absorbed by Apple . Getting rid of the snail mail model could be cumbersome.
Cue the “Apple should buy Adobe/ ‘x company’ ” comments.
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