Apple Leadership Undergoes Changes Ahead of WWDC14

Luca Maestri takes CFO role, Katie Cotton ends her affairs with the company

By on June 1st, 2014 10:06 GMT

In the days leading up to the Worldwide Developers Conference kick-off, Apple reveals in a filing with the Securities and Exchange Commission that its leadership is undergoing a few changes, albeit minor ones.

As promised earlier this year, Luca Maestri is officially transitioning to his new role of Chief Financial Officer and Senior Vice President, replacing the outgoing Peter Oppenheimer, who has served as CFO for the past decade.

“In connection with Mr. Maestri’s appointment as CFO, he will receive an annual salary of $1 million [€733,514] and will be eligible to participate in Apple’s performance-based cash bonus program for executive officers on a pro rata basis for fiscal 2014.”

Maestri has over 25 years of global experience in senior financial management.

So that’s one thing going on at Apple in the days leading up to WWDC. Another is Katie Cotton departing Apple. Starting next week, she will no longer be on the company’s payroll.

“Katie has given her all to this company for over 18 years,” Apple spokesman Steve Dowling said in a statement to Re/code earlier this year. “She has wanted to spend time with her children for some time now. We are really going to miss her.”

Reached for comment, Cotton revealed it was hard for her to leave, but that she was doing it to dedicate more time to the people in her life. “This is hard for me,” she said. “Apple is a part of my heart and soul.”

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