Apple shuffles CFOs for the first time in a decade

Enlarge / A building at Apple Park, the company’s Cupertino, California, HQ. (credit: Apple)

Apple has announced a major change on its leadership team: Longtime Chief Financial Officer Luca Maestri will step down from his role on January 1, 2025.

Maestri has, by all appearances, had a resoundingly successful run since he took on the CFO role a decade ago in 2014. In his tenure, Apple had its strongest fiscal decade ever, as the company’s net income more than doubled.

Apple stock is worth nine times what it was when he stepped into the job. Certainly, that can’t be attributed exclusively to the company’s CFO, but it appears Maestri navigated both the popularity of the iPhone and the company’s shift to services (which make five times more money than they did earlier in his time as CFO) well.