Luca Maestri, the chief financial officer of Xerox Corporation (NYSE:XRX), is leaving the company to become Apple Inc. (NASDAQ:AAPL);s corporate controller. According to Reuters, Maestri will officially leave the company in late February to help ease the transition for the new CFO. Maestri has been with Xerox for nearly two years. Prior to that, he worked for Nokia Siemens Networks as a chief financial officer.
He will report to Peter Oppenheimer, who started as a corporate controller before becoming the company's chief financial officer. Oppenheimer, who has been with the company for about 17 years, currently oversees several business operations including controller, treasury, taxes, investor relations, internal audit, corporate development, facilities, and human resources. The new role will have him developing financial policies, tracking expenses and income. He will also help them with investment decisions.
Maestri graduated from the Luiss University in Rome with a bachelor's degree in economics in 1988. He later received his Master's degree in Science at Boston University.
Maestri is currently a board member for The Principal Foundation Group.
Although he was on board with the Xerox Corporation (NYSE:XRX) for a few years, Maestri still made a positive impact on the company. Xerox CEO, Ursula Burns said, "Luca is a stellar finance executive whose contributions have brought great value to the transformation of Xerox into a services enterprise.
Apple Inc. (NASDAQ:AAPL) is pleased that Luca Maestri will join their executive team. According to one of Apple's representatives, he will bring over two decades worth of experience in management and finances. They expect that he will bring great things for the company. He will replace Betsey Rafael, who just retired last October.
Xerox's spokeswoman, Karen Arena has yet to release a public statement on the matter.
Apple Inc. (NASDAQ:AAPL)'s new addition to their executive team should prove beneficial for the company.