The company seems to be doing well, but he’s getting the boot. What did he do?
Externally doing well
Apple to Replace CFO Luca Maestri on Jan. 1
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Re: Apple to Replace CFO Luca Maestri on Jan. 1
#12The company seems to be doing well, but he’s getting the boot. What did he do?
He's not getting the boot.
He's 60 and has a nine figure net worth, some people actually want to retire or do other things.
Apple has ~a hundred billion cash in hand, that is exceptional performance for a CFO. He's giving a SIX month notice, the VP of finance will take his place, which literally is the natural successor.
Absolutely nothing here may suggest there's incompetence or a scandal involved.
Re: Apple to Replace CFO Luca Maestri on Jan. 1
#13The company seems to be doing well, but he’s getting the boot. What did he do?
Who said anything about the boot?
Re: Apple to Replace CFO Luca Maestri on Jan. 1
#14The company seems to be doing well, but he’s getting the boot. What did he do?
It’s part of a planned transition.
Re: Apple to Replace CFO Luca Maestri on Jan. 1
#15>Maestri will continue to lead teams focusing on IT, security and real estate development, Apple said.
This is actually a good thing because those three are severely lacking in Apple. And it might just because they didn't have the time to look into it.
Financial reporting of Apple changed a lot since Steve Jobs passed away and Tim Cook put him in charge. From Tim's preoperative I guess he did a great job. The problem is that Apple has been too focused on those numbers I wonder whether it was Tim's idea, Luca or Eddy Cue.
But this is really sad. In terms of CFO, Luca and the ex-Intel CFO Bob Swan, and Stacy Smith are the ones I like and remember on top of my head.