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Apple Announces September Retirement of CFO Peter Oppenheimer
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Whoops. Not sure why I wrote that it is a private company. I was thinking as compared to a governmental entity, which would probably have been another thing he considered doing.
Anyway, that must be one of the most interesting boards to sit on. Seems like a great move. Though obviously some risk associated with that position. There is a small but not zero group of the world that literally wants GS's management and directors heads on pikes. There are folks gunning for you when you work at the top of that organization.
One has nothing to do with the other.
They wouldn't have to pay him to leave.
He's just sitting on their board. As of now, nothing has been mentioned about a full time role there. Board means shows up to meetings, considers general strategy.
Er, yes, it is. It's a publicly traded company, so its definitely the shareholders' business.
Whatever deal has been agreed between GS and Oppenheimer is their business that they can choose to make public if they want - they would probably feel obligated to if he received a large amount of stock as part of his package for example. But some shareholders are under the assumption that they have the right to know every single detail relating to a company. This is not true.
Go look at a recent picture of the guy
He deserves a retirement. The guy oversaw the globalization of Apple finances and tax management.
I'm sure Apple will be in good hands after his departure. The old Apple stalwart fans need to remember that this is no longer the company of the 90's. (It is amazing how poorly the biggest Steve Jobs fanboys trust Steve Jobs to have fixed his mistakes the second time around).
Look at Oppenheimer's more recent photos instead of his corporate bio page photo. The guy has really, really aged. Take some well deserved time off. Get out of the corporate grind. Go be a board member and consultant. Thanks, Mr. Oppenheimer, you deserve it.
He deserves a retirement. The guy oversaw the globalization of Apple finances and tax management.
I'm sure Apple will be in good hands after his departure. The old Apple stalwart fans need to remember that this is no longer the company of the 90's. (It is amazing how poorly the biggest Steve Jobs fanboys trust Steve Jobs to have fixed his mistakes the second time around).
Look at Oppenheimer's more recent photos instead of his corporate bio page photo. The guy has really, really aged. Take some well deserved time off. Get out of the corporate grind. Go be a board member and consultant. Thanks, Mr. Oppenheimer, you deserve it.
Sheesh. Never confuse causation with coincidence. A minuscule amount of common sense is all that is needed deep six that theory.
He's on the board of directors. That is not a full time job. Even so, board of directors usually don't get paid. If he is getting paid, it won't even be close to a fraction of what he was making at Apple. Besides, as I said, being on the board of directors is not a full time job. Tim Cook is on the board of directors at Nike, yet he still finds time to run Apple
Board members are typically compensated for their work. Not a salary per se, but definitely a retainer, stock, expenses etc. And in the case of GS, certain non employee directors earned north of $600,000.
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Cook is fast becoming my hero. Another wise move. Shareholders haven't been showing much respect for Apple or Cook, and the sooner Apple buys back all shares, the better.
We are beginning to see the shape of Cook's Apple -- succession planning!
Fadell for Mansfield
Maestri for Oppenheimer
Browett for Johnson
Ive for Forstall
You get the idea, anyway.
I can fully understand the guys at the top wanting to get out post-Steve. It's a nice career marker. They have money & time and they should use it.
Not to mention, quit while you're at the top, and Apple is really at the top at the moment, all credit to Tim Cook! And things do seem to be heading UP not down for Cook, so -- all good there.
I don't envy Cook managing this transition, especially with external forces at work, that Jobs could get away with ignoring, due to 'his contribution so far'. Not all of these hires have been great. In fact except for Ive, I'd say they're all dreadful, but just what the conventional wisdom 'wants'.
10 points to the first person who finds out where Maestri worked for Goldman Sachs in the past. You guessed it, I don't think this is a good one either. Apple really needs to be promoting from within to maintain the culture. Conventional wisdom is 'get new blood from outside', but that's just stupid in Apple's case, because no one from outside has a clue what Apple's about.
The ultimate succession planning is Cook replacing himself and that, I see is crucial to come from the inside, and there's plenty of younger guys that have been around for 10 years or more that could be groomed to replace Cook. Let's see if he has the stones to defy the markets!
Sadly, Cook may never get to see the fruits of his labours. He'll have 5-10 years to flush the company through and set it up for the next 20, but be wanting to retire himself, by then.
Where I'm starting to see Cook's genius, is in recovering from these popular but unsuitable hires. Maybe he has to do what will be 'acceptable', but his true skill will be revealed by how he deals with what he has.
I'm pretty happy with how he's correcting course in this respect. Browett seems to be fixed. Time will tell. Fadell/Insight/Ominiture are is so entrenched in intelligence community (Ominture moved their server farm to be near NSA), that I don't know what's going to happen there, but I'm heartened by the Goto Fail affair. Apple seems to be rebelling against having to go with Prism. Normally Apple security vulnerabilities are reported by external security researchers (we told Apple about this 6 months ago and they still haven't fixed it), but this one seems to have come from Apple, quietly outing the NSA backdoor as part of some larger game.
Settling the post-Jobs Apple will be a looong and thankless task, and I believe Cook needs to getting much more credit than he's getting right now. I'm starting to see why Jobs entrusted Apple to Cook (in action, not just in theory). There's a lot of things I don't understand, like releasing the entire new product line over 2 months before the Christmas shopping period but I do see Cook performing almost impossible tasks on a daily basis, now. Respect.
The truth is this reveals the political agenda which Art Levinson and Peter Oppenheimer share. (On a side note, the Oppenheimers are the royalty of the San Francisco Bay Area.)
As soon as Steve Jobs became too weak to rule over Apple, nefarious forces commandeered Apple and are using the company as part of the takeover of all industry for their ideological goal. We all know what that is. Think I'm wearing a tin foil hat?
If anything this signifies that Apple is going to tank along with the economy of the entire world when they finally pull the plug on this giant fiat currency pyramid scheme they've created since repealing Glass-Steagall. Scoff all you want.
As soon as Steve Jobs became too weak to rule over Apple, nefarious forces commandeered Apple and are using the company as part of the takeover of all industry for their ideological goal. We all know what that is. Think I'm wearing a tin foil hat?
If anything this signifies that Apple is going to tank along with the economy of the entire world when they finally pull the plug on this giant fiat currency pyramid scheme they've created since repealing Glass-Steagall. Scoff all you want.
They don't need to know when a low-level employee gets a $300 bonus. If the company drops tens or hundreds of millions of dollars to secure a big-name person, it is absolutely their right to know.
So, while your point is correct, this is NOT one of the occasions where they shouldn't be informed, it is one where they definitely NEED to be informed.
He's not "going to Goldman Sachs." Have an adult splain to you what it means to be on the board of directors of a publicly held corporation in the United States.
LOL. That really is projection. From one of your earlier victim posts:
"I'm a male postgraduate student in the process of filing a gender discrimination suit against a predominantly feminist art history department faculty at my university. Affirmative action and race / gender quotas have only excluded white males.
It boils down to over-regulation leading to mediocrity. But it has also hurt me and affected my life tremendously. Growing up in the ultra-leftist San Francisco Bay Area, as a white male I was actually at the bottom of the race / gender totem pole. So I don't have any empathy whatsoever for anyone who claims victim status, and am only filing a discrimination lawsuit because I was truly discriminated against by feminazi professors and have to get out of the programme."
