New York: Apple Inc. said chief financial officer (CFO) Peter Oppenheimer will retire at the end of September after 18 years with the technology company.

Luca Maestri, Apple’s vice-president of finance and corporate controller, will succeed Oppenheimer, the Cupertino, California-based company said on Tuesday in a statement.

Oppenheimer, 51, joined Goldman Sachs Group Inc.’s board of directors on Monday after the bank was the lead underwriter on Apple’s bond offering last year. Oppenheimer said in the statement that he plans to spend more time with his family, get more involved at California Polytechnic State University, travel and finish his pilot’s licence.

Maestri, 50, joined Apple in March 2013 and was previously the CFO of Xerox Corp. and Nokia Siemens Networks. Maestri will start transitioning to the role as Apple’s CFO in June.

“When we were recruiting for a corporate controller, we met Luca and knew he would become Peter’s successor," Tim Cook, Apple’s chief executive officer (CEO), said in the statement. “Luca has over 25 years of global experience in senior financial management, including roles as a public company CFO, and I am confident he will be a great CFO at Apple." Bloomberg

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