Luca Maestri

Last updated
Luca Maestri
Born (1963-10-14) 14 October 1963 (age 60)
Rome, Italy
Alma mater Luiss University (BEc)
Boston University (MS)
Occupation(s) Senior Vice President and Chief Financial Officer, Apple Inc.
Board member ofApple

Luca Maestri (born 14 October 1963) is an Italian businessman. He is the chief financial officer (CFO) of Apple Inc. until the end of 2024. [1] [2] [3]

Contents

Education

Maestri has a bachelor's degree in economics from Luiss University in Rome, Italy, in 1987 and a Master of Science in management from Boston University in 1991. [4]

Career

Before Apple

The first global company where Maestri worked was at General Motors. After that, in 2009, he worked at Nokia Networks and at Xerox as a CFO.

Apple

In 2014, after working at Apple Inc. as vice president of finance and corporate controller, he was appointed the position of CFO. [5] [6] [7] Along with being the chief financial officer he will also assume the responsibility of principal accounting officer. Upon being appointed CFO, he was issued 6,337 restricted stock units (currently worth approximately $4 million). Maestri's official salary is $1 million but he is eligible for Apple's performance-based cash bonus program which increases his salary. In 2014, he took in a salary of $14 million and in 2015, he took in a salary of $25.3 million. [8] Based on SEC filings, from 2018 to 2020, Maestri's average compensation was $26 million. [9] Maestri will step down at the end of 2024. [2]

Maestri will be head of the Corporate Services teams and report to Apple CEO Tim Cook. Kevan Parekh will replace Maestri in the CFO role. [2]

Related Research Articles

<span class="mw-page-title-main">Mark Hurd</span> American businessman (1957–2019)

Mark Vincent Hurd was an American technology executive who served as Co-CEO and as a member of the board of directors of Oracle Corporation. He had previously served as chairman, chief executive officer, and president of Hewlett-Packard, before his forced resignation in 2010. He was also on the board of directors of Globality and was a member of the Technology CEO Council and board of directors of News Corporation until 2010.

Peter Oppenheimer is the former senior vice president and Chief Financial Officer of Apple Inc. and has been a member of the board of directors of Goldman Sachs since 2014.

<span class="mw-page-title-main">Richard S. Fuld Jr.</span> American banker

Richard Severin Fuld Jr. is an American banker best known as the final chairman and chief executive officer of investment bank Lehman Brothers. Fuld held this position from 1 April 1994 after the firm's spinoff from American Express until 15 September 2008. Lehman Brothers filed for bankruptcy protection under Chapter 11 on September 15, 2008, and subsequently announced the sale of major operations to parties including Barclays Bank and Nomura Securities.

Safra Ada Catz is an Israeli-American billionaire banker and technology executive. She is the CEO of Oracle Corporation. She has been an executive at Oracle since April 1999, and a board member since 2001. In April 2011, she was named co-president and chief financial officer (CFO), reporting to founder Larry Ellison. In September 2014, Oracle announced that Ellison would step down as CEO and that Mark Hurd and Catz had been named as joint CEOs. In September 2019, Catz became the sole CEO after Hurd resigned due to health issues.

Gary Lewis Crittenden is an American financial manager. He is an executive director of HGGC, and was previously CEO and chairman. He is also the former chairman of Citi Holdings. He was chairman of Citadel, Power Holdings, and iQor; lead independent director of Pluralsight; and has sbeen on the boards of Extra Space Storage, Staples Inc., Ryerson, Inc., TJX Companies, and Utah Capital Investment Corp. From 2000 to 2007, Crittenden was executive vice president and chief financial officer (CFO) of American Express, and from March 2007 to March 2009, he was the chief financial officer of Citigroup.

Nelson Joosuk Chai is an American investment banker and financial executive. He formerly served as the chief financial officer of American financial services company Merrill Lynch and briefly as Bank of America's president for the Asia-Pacific region. He is the former president of CIT Group and reported directly to then CEO John Thain. On August 21, 2018, it was announced that Chai has been hired as the chief financial officer of Uber.

<span class="mw-page-title-main">AmTrust Financial Services</span> New York City-based multinational property and casualty insurance company

AmTrust Financial Services, Inc., is a New York City-based multinational property and casualty insurance company, offering workers’ compensation, general liability, business owners policies (BOP), cyber liability, employment practices liability (EPLI) and more. Operating through its subsidiaries, its operations are divided into three segments: small commercial business insurance, specialty risk and Extended Warranty insurance, and Specialty Middle-Market Property and Casualty insurance. The company's main regions of operations are North America, United Kingdom, and mainland Europe. AmTrust is rated “A−” (Excellent) by AM Best Company. Barry Zyskind is the chairman and CEO.

David A. Ebersman is an American businessman and the co-founder and chief executive officer of Lyra Health. He previously served as chief financial officer of Facebook and Genentech. At Facebook, Ebersman orchestrated the largest U.S. Internet IPO of all time and set a record for CFO stock sales.

<span class="mw-page-title-main">Ruth Porat</span> American businessperson (born 1958)

Ruth Porat is a British–American business executive who is the President and Chief Investment Officer of Alphabet and its subsidiary Google, LLC and prior to that was Chief Financial Officer of the same companies from 2015 to 2024. Prior to joining Google, Porat was the Executive Vice President & Chief Financial Officer of Morgan Stanley from January 2010 to May 2015.

<span class="mw-page-title-main">Laurence Tosi</span> American entrepreneur, investor, and philanthropist

Laurence A. Tosi is an American entrepreneur, investor, and philanthropist. Tosi is currently a Managing Partner of WestCap Group, the investment firm he founded. In October 2020, it was reported that Tosi's firm was in the final stages of raising a $750 million fund and had received about $1.2 billion of investor interest to date. Prior to dedicating his time to WestCap, Tosi served as the chief financial officer of Airbnb and of The Blackstone Group and held several roles at BofA Merrill Lynch.

Charles W. Scharf is an American investment banker and business executive who is the chief executive officer and president of Wells Fargo. He was previously the CEO of Visa Inc. and BNY.

From 2014 until 2024, Apple undertook a research and development effort to develop an electric and self-driving car, codenamed "Project Titan". Apple never openly discussed any of its automotive research, but around 5,000 employees were reported to be working on the project as of 2018. In May 2018, Apple reportedly partnered with Volkswagen to produce an autonomous employee shuttle van based on the T6 Transporter commercial vehicle platform. In August 2018, the BBC reported that Apple had 66 road-registered driverless cars, with 111 drivers registered to operate those cars. In 2020, it was believed that Apple was still working on self-driving related hardware, software and service as a potential product, instead of actual Apple-branded cars. In December 2020, Reuters reported that Apple was planning on a possible launch date of 2024, but analyst Ming-Chi Kuo claimed it would not be launched before 2025 and might not be launched until 2028 or later.

Vincent L. Sadusky is the Chief Executive Officer at IGT. He previously was CEO & President of Media General ahead of its sale to Nexstar Media Group. Previously, he was the President, Chief Executive Officer and CFO of LIN Media. He also was the Director of International Game Technology. He holds a BS degree from Pennsylvania State University and an MBA from New York Institute Of Technology.

<span class="mw-page-title-main">Alphabet Inc.</span> American multinational technology conglomerate

Alphabet Inc. is an American multinational technology conglomerate holding company headquartered in Mountain View, California. Alphabet is the world's second-largest technology company by revenue, after Apple, and one of the world's most valuable companies. It was created through a restructuring of Google on October 2, 2015, and became the parent holding company of Google and several former Google subsidiaries. It is considered one of the Big Five American information technology companies, alongside Amazon, Apple, Meta, and Microsoft.

Thomas C. Naratil is an American business executive in the financial industry. After serving as president of both UBS Wealth Management Americas and UBS Americas since early 2016, Naratil was appointed CEO of UBS Americas Holding LLC and became co-president of Global Wealth Management of UBS Group AG and UBS AG in early 2018.

David Gibbs is an American businessman and CEO of Yum! Brands Inc.

Jacek Olczak is a Polish businessman and the chief executive officer (CEO) of Philip Morris International, the largest publicly traded tobacco company in the world. He is the first Pole to take the chair of a global company.

Stephen Scherr was the chief executive officer of Hertz and a member of its board of directors from February 2022 to March 2024.

Kevan Parekh is the incoming chief financial officer (CFO) of Apple.

References

  1. "New Apple CFO Luca Maestri's official profile lands on executive leadership webpage". www.appleinsider.com. Quiller Media, Inc. Archived from the original on 14 December 2014. Retrieved 4 December 2014.
  2. 1 2 3 "Apple announces Chief Financial Officer transition". Apple Newsroom. Archived from the original on 2024-08-26. Retrieved 2024-08-26.
  3. Reuters (27 August 2024). "Apple taps insider Kevan Parekh as CFO, replacing Maestri". reuters.com. Reuters . Retrieved 27 August 2024.
  4. "Luca Maestri". Nestlé . Archived from the original on 2024-09-13. Retrieved 2024-09-13.
  5. "Luca Maestri". www.bloomberg.com. Bloomberg Businessweek. Archived from the original on March 8, 2014. Retrieved 4 December 2014.
  6. "Luca Maestri". www.apple.com. Apple Inc. Archived from the original on 4 May 2017. Retrieved 4 December 2014.
  7. "Luca Maestri". Forbes . Archived from the original on January 17, 2013. Retrieved 4 December 2014.
  8. "Apple officially appoints new CFO Luca Maestri as Peter Oppenheimer transitions out". AppleInsider. Archived from the original on 2015-12-10. Retrieved 2015-12-09.
  9. "Compensation Information for Luca Maestri, Senior Vice President, CFO of Apple". Salary.com. Archived from the original on September 5, 2021. Retrieved September 5, 2021.