Apple treasurer Gary Wipfler retires from the company after 35 years

Gary Wipfler, 62, recently stepped down from his role as the keeper of Apple's $200 billion money stash, sources told Bloomberg. Wipfler's retirement has not yet been made public.

As treasurer, Wipfler oversaw Apple's cash balance, investments, and capital-return programs. At one point, he was also a fixture on Apple's quarterly earnings calls.

Wipfler's tenure at Apple spanned several of the company's chief executive officers. He even worked at Apple before Steve Jobs returned to the company in 1997. When Tim Cook took over as head of Apple, Wipfler took part in a change in Apple's money strategy that involved devoting more cash to share buybacks and dividend programs. Notably, Apple's strategy shied away from major acquisitions.

In addition to serving as Apple treasurer, Wipfler also helped oversee Braeburn Capital, an Apple subsidiary that manages the company's assets, and was involved in Apple's racial justice and affordable house efforts.

Until his retirement, he answered to Apple Chief Financial Officer Luca Maestri.

Apple ended the second quarter of 2021 with $194 billion in cash and securities. The company has been working to reduce its balance as it attempts to even out its amount of cash and debt.