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Old Mar 3, 2014, 10:31 AM   #1
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Apple CFO Peter Oppenheimer Joins Board of Directors at Goldman Sachs




Goldman Sachs Group today announced that Apple Chief Financial Officer Peter Oppenheimer will join the banking firm's board of directors, effective immediately.

Oppenheimer will become the board's 13th director and will serve on the firm's Audit, Risk, Compensation and Corporate Governance, Nominating and Public Responsibilities committees.
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"Peter's 25 years of broad experience across important industries will add a valuable perspective to our Board of Directors," said Lloyd C. Blankfein, Chairman and CEO. "We appreciate his willingness to serve as a director and look forward to benefitting from his judgment and counsel."
Oppenheimer joined Apple in 1996 as the Senior Director of Finance and Controller and was promoted several times before being appointed as Apple's Chief Financial Officer in 2004. Besides serving on the board at Goldman Sachs, Oppenheimer also is a board member for the California Polytechnic State University Foundation and Sacred Heart Schools in Atherton, California.

Oppenheimer isn't the only Apple executive to serve on the board of directors at another company. Apple CEO Tim Cook is a member of the board at Nike, while senior vice president of Internet Software and Services Eddy Cue serves on Ferrari's Board of Directors, a role he undertook in November 2012.


Article Link: Apple CFO Peter Oppenheimer Joins Board of Directors at Goldman Sachs
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Old Mar 3, 2014, 10:36 AM   #2
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Cool, so it's safe to say I hate this guy now.
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Old Mar 3, 2014, 10:39 AM   #3
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power power power
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Old Mar 3, 2014, 10:50 AM   #4
eas
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Hmmmm. It seems like GS is trying to find a way to get Apple to do some big acquisitions...
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Old Mar 3, 2014, 10:50 AM   #5
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The empire without conscience ...........
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Old Mar 3, 2014, 10:55 AM   #6
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With the pressure of running the most valued company in the world, where do these guys get the time to help run other companies? I get that the influence will probably help apple, but isn't there a concern that they leaders of apple are getting distracted with the other companies? Or maybe this is a slow silent take over of these other companies.
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Old Mar 3, 2014, 10:57 AM   #7
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Looks like someone is a fan of McDonalds!
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Old Mar 3, 2014, 10:57 AM   #8
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Originally Posted by Cuban Missles View Post
With the pressure of running the most valued company in the world, where do these guys get the time to help run other companies? I get that the influence will probably help apple, but isn't there a concern that they leaders of apple are getting distracted with the other companies? Or maybe this is a slow silent take over of these other companies.
They have people work for them. All they do is say yes or no as lay out the general company strategy. It's not like they are covered in paper work all day. I wouldn't be surprised if he only works 30 hours a week.
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Old Mar 3, 2014, 11:16 AM   #9
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I'm picturing this as: Cook comes out as having a social conscience, and they all quickly scramble to find something evil and corporate that can offset this in the news cycle for the benefit of the diehard conservative stockholders. Eureka - Goldman Sachs board position!
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Old Mar 3, 2014, 11:18 AM   #10
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They have people work for them. All they do is say yes or no as lay out the general company strategy. It's not like they are covered in paper work all day. I wouldn't be surprised if he only works 30 hours a week.
I would be very surprised if he works less than 50 hours a week. You generally don't get to that level at a big company if you arent a workaholic. And we know that Jobs and Cook work crazy hard so they arent going to have guys working 30 hours a week around them.
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Old Mar 3, 2014, 11:34 AM   #11
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This is good news for consumers. Having an Apple-minded person at Goldman Sachs is a huge opportunity for the Apple community.
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Old Mar 3, 2014, 12:12 PM   #12
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This is good news for consumers. Having an Apple-minded person at Goldman Sachs is a huge opportunity for the Apple community.
I don't get it. Is this sarcasm?

But in case it's not... what?!? really??? what's an "apple-minded person"? and in this Wall Street environment, how ís that different from any other wall street douchebag there? how do you think he will help consumers by being there? I guess by "the Apple community" you mean the shareholders, right? because Goldman Sachs business model is to screw everyone else - including their customers... so...
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Old Mar 3, 2014, 12:24 PM   #13
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I don't get it. Is this sarcasm?

But in case it's not... what?!? really??? what's an "apple-minded person"?
A believer in Apple and the mission.


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how do you think he will help consumers by being there? I guess by "the Apple community" you mean the shareholders, right? because Goldman Sachs business model is to screw everyone else - including their customers... so...
Because he will bring new ideas to the table. I'm sure he will do excellent work at Goldman. There's no way he's going there to screw everyone possible. I think he will be a very positive addition to the Goldman board of directors.
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Old Mar 3, 2014, 12:26 PM   #14
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Which side will win out ........

The fight between good (Public Responsibilities)
and evil (Compensation).

Audit, Risk, Compensation and Corporate Governance, Nominating and Public Responsibilities committees.
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Old Mar 3, 2014, 12:33 PM   #15
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This is good news for consumers. Having an Apple-minded person at Goldman Sachs is a huge opportunity for the Apple community.
No. Just no
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Old Mar 3, 2014, 12:43 PM   #16
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Originally Posted by dumastudetto View Post
A believer in Apple and the mission.
Sorry, what mission is that?


Quote:
Because he will bring new ideas to the table. I'm sure he will do excellent work at Goldman. There's no way he's going there to screw everyone possible. I think he will be a very positive addition to the Goldman board of directors.
How do you know this? Do you know how Goldman Sachs board works? Just look at Goldman's history, operations and recent scandals... do you really think they brought him on to "change" things? or to profit from the relationship?

Perhaps you are being a bit naive?
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Old Mar 3, 2014, 12:45 PM   #17
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I don't get it. Is this sarcasm?

But in case it's not... what?!? really??? what's an "apple-minded person"? and in this Wall Street environment, how ís that different from any other wall street douchebag there? how do you think he will help consumers by being there? I guess by "the Apple community" you mean the shareholders, right? because Goldman Sachs business model is to screw everyone else - including their customers... so...
Quote:
Originally Posted by dumastudetto View Post
A believer in Apple and the mission.




Because he will bring new ideas to the table. I'm sure he will do excellent work at Goldman. There's no way he's going there to screw everyone possible. I think he will be a very positive addition to the Goldman board of directors.
Yeah, no matter how new the idea, unless it's about increasing profit, he will end up as nothing more than a PR move for GS. Goldman knows they are universally loathed <- hyperbole, but not by much. An Apple guy on board means the naive among us will wrongly associate Apple's goodwill with Goldman. It's not the same.

Funnier still, Cook just tore someone a new one about suggesting Apple make profit the only factor in business decisions. Now Oppenheimer joins the board of a company known for a profit above all else mentality. Wierd to me.
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Old Mar 3, 2014, 12:52 PM   #18
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Cook just tore someone a new one about suggesting Apple make profit the only factor in business decisions. Now Oppenheimer joins the board of a company known for a profit above all else mentality. Wierd to me.
To me as well. I was thrilled about Cook's rebuffing of the NCPPR. This does seem like a swing in the opposite direction. It would be heartwarming to think that Oppenheimer will change the climate at Goldman-Sachs. But I'm a bit too cynical to think that will happen.
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Old Mar 3, 2014, 01:03 PM   #19
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I did see this the other day ..........

Don't Be Surprised If Apple's CFO Announces His Retirement At The Shareholder Meeting:

http://www.forbes.com/sites/chuckjon...older-meeting/

Maybe he's looking for his next job?
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Old Mar 3, 2014, 01:08 PM   #20
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For those who think that having an executive from another company serve on a corporate board means anything, consider that former Intuit CEO (and now Board Chair) Bill Campbell has been on Apple's board for more than 15 years. A lot of difference that's made to Intuit's Mac products.
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Old Mar 3, 2014, 01:09 PM   #21
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Tim Cook -> Nike, Eddie Cue -> Ferrari, Steve Jobs -> Disney...

What do all three have in common? Companies that have a strategic importance to Apple. What is the strategic importance of GS to Apple? Apple 'Wallet' perhaps? Major acquisitions? Better funding for more stock repurchases?

This isn't about changing GS...it is about what Apple needs... and I think it is quite intriguing.
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Old Mar 3, 2014, 01:15 PM   #22
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They have people work for them. All they do is say yes or no as lay out the general company strategy. It's not like they are covered in paper work all day. I wouldn't be surprised if he only works 30 hours a week.
You would be wrong.
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Old Mar 3, 2014, 01:22 PM   #23
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Last edited by Narrator Jack; Aug 28, 2014 at 07:23 PM.
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Old Mar 3, 2014, 01:23 PM   #24
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You would be wrong.
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Old Mar 3, 2014, 02:32 PM   #25
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So now Wallstreet is gonna try the "back door" to get to Apple's cash hoard. They already tried the front door and Cook for the most part...said no.

The CFO will end up owned by Goldman. This will manifest as coups and intrigues within Apple with the net result that Cook will eventually be forced out in favor of a more "pliable" CEO.

This is really bad news. I can't think of a more slimy outfit than Goldman Sachs. You play in the pigpen, and you get dirty.
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