Apple’s chief financial officer is Luca Maestri. He is responsible for managing internal audits, real estate, treasury, accounting, analysis, business support, and investor relations.
After working for the company for a year as a corporate controller, he advanced fast to become the CFO. He worked as Xerox’s CFO for two years before joining the firm in 2013.
What is the Net Worth of Luca Maestri in 2024?
As of April 11th, 2024, Luca Maestri’s projected net worth is $24.49 million, as per reports of Insider trades. As of August 26th, Mr. Maestri possessed 107,788 shares of Apple stock, valued at around $24,487,278.
This estimate of Mr. Maestri’s net worth does not account for any other investments that he might hold. In addition, Mr. Maestri’s compensation as Apple’s CFO is $4,610,000.00.
Luca Maestri Career Highlights
Luca Maestri, the Chief Financial Officer and Senior Vice President of Apple has had a distinguished career with significant highlights across various global companies. Here are the key points of his career:
Early Education and Career
- Education: Maestri holds a Bachelor’s Degree in Economics from Luiss University in Rome and a Master’s Degree in Science of Management from Boston University.
- General Motors: He began his career at General Motors, where he spent 20 years in finance and operations roles across multiple regions including Ireland, Italy, Singapore, Brazil, and Thailand. He was part of the team that established GM’s regional Asia Pacific operations and later became CFO for GM’s operations in 45 European countries.
Pre-Apple Roles
- Nokia Siemens Networks: In 2009, Maestri joined Nokia Siemens Networks as the Chief Financial Officer.
- Xerox: In 2011, he moved to Xerox, where he served as the CFO, overseeing investor relations, risk management, tax, audit operations, mergers and acquisitions, and finance.
Apple
- Joining Apple: Maestri joined Apple in February 2013 as the Vice President of Finance and Corporate Controller.
- CFO Appointment: In May 2014, he was appointed as the Chief Financial Officer and Senior Vice President, replacing Peter Oppenheimer.
- Responsibilities: As CFO, Maestri oversees accounting, business support, financial planning and analysis, treasury, real estate, investor relations, internal audit, and tax functions.
- Earnings Calls: He co-hosts Apple’s quarterly earnings calls with CEO Tim Cook, discussing the company’s financial status and future projections.
- Successes: During his tenure, Apple experienced significant growth, including a 90% tablet share in US Education with the iPad and the success of Apple’s partnership with IBM.
- Challenges: Maestri navigated issues such as the delayed launch of the iPhone 12 and chip shortages during the COVID-19 pandemic.
Transition and Future Role
- Stepping Down: Maestri will step down as CFO at the end of 2024 and will be succeeded by Kevan Parekh, the current Vice President of Financial Planning and Analysis.
- New Role: After stepping down, Maestri will continue to work at Apple in a reduced capacity, overseeing information technology, security, and real estate functions.
Compensation and Legacy
- Compensation: Maestri’s compensation has been significant, with an average of $26 million from 2018 to 2020 and $26.9 million in 2023.
- Legacy: He is credited with maintaining Apple’s financial discipline and contributing to the company’s revenue growth during his tenure.
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Luca Maestri Assets, & Investments
Luca Maestri, the Chief Financial Officer and Senior Vice President of Apple has significant assets and investments primarily tied to his role at Apple. Here are the key details:
Assets and Holdings
Apple Stock: As of April 2024, Maestri owns 107,788 shares of Apple Inc. (AAPL), valued at approximately $24 million.
He has sold shares periodically, with recent sales including 96,735 shares worth $16.9 million, but he still holds around 110,000 shares.
Compensation: Maestri’s compensation includes a base salary and performance-based bonuses. His average compensation from 2018 to 2020 was $26 million.
In 2014, his total compensation was $14 million, and in 2015, it was $25.3 million.
Other Positions and Holdings:
Historically, Maestri has held positions at other companies, including General Motors, Nokia Siemens Networks, and Xerox, but his current significant holdings are primarily in Apple. He was also a director at Principal Financial Group Inc. until 2015.
Investment and Trading Activity
Trading Plan: Maestri’s stock sales are often part of a predetermined trading plan, adopted by insider trading laws. For example, in 2020, he adopted a plan that led to the sale of 96,735 shares in 2024.
SEC Filings: According to SEC filings, Maestri has made several transactions in Apple stock over the past few years, all of which were sales, with no reported purchases.
Future Role and Transition
Stepping Down: Maestri will step down as CFO at the end of 2024 and will be succeeded by Kevan Parekh. After stepping down, he will continue to work at Apple in a reduced capacity, overseeing information technology, security, and real estate functions.
Luca Maestri Cars, Houses
There is limited public information available about Luca Maestri’s assets such as cars and houses.
Maestri’s significant assets are primarily his Apple stock holdings, which are valued at approximately $24 million as of 2024. He also holds a small number of shares in Nestle S.A., valued at around $167,900.
Given the lack of detailed information on his assets, it is not possible to provide specific details about the cars or houses owned by Luca Maestri.
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