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Apple has reportedly filled the role of recently retired corporate treasurer Gary Wipfler, with Michael Shapiro to take the reins of the tech giant's nearly $200 billion cash hoard.
Shapiro is a longtime money handler at Apple and is listed as a member of Braeburn Capital, the company's Nevada-based asset management arm. As treasurer, Shapiro is expected to forward progress toward a cash neutral position, balancing Apple's debt with its cash and securities, the latter of which stood at $194 billion at the end of the second quarter.
In addition to Shapiro, four other executives received promotions in recent days, according to the report.
Chip engineer Alan Gilchrist has been promoted from a senior director role to vice president of engineering for custom silicon and battery technology, while Eden Sears, former senior director of brand marketing for iPhone and iPad, is now VP of brand for the company. Sears is to take on additional tasks for marketing products like the Apple Watch and AirPods, and will have a hand in packaging and retail.
Apple SVP of Software Engineering Craig Federighi promoted two subordinates to VP roles. Stacey Lysik was previously senior director of software program management and oversaw development of iOS, iPadOS and macOS. Ron Huang also moves up from a senior director position that concentrated on sensing and connectivity technologies involving wireless communications and location and motion sensors, the report said.
None of the promotions have been publicly announced.