Luca Maestri is the Chief Financial Officer and Senior Vice President of Apple. He can be heard in Apple's quarterly earnings calls discussing Apple's financial status.
● Chief Financial Officer and Senior Vice President of Apple
● Co-Host of Apple's Quarterly earnings conference calls
● Former CFO of Nokia Siemens Networks and Xerox
● Been at Apple since March 2013
● Born October 14, 1963
● Economics and Master's Science of Management Degrees
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Luca Maestri has been a part of Apple's executive team for seven years. A former CFO of Xerox Corp. now leads the company's business support, accounting, analysis, treasury, real estate, internal audit, and investor relations.
Maestri currently holds the role of Chief Financial Officer and Senior Vice President. He reports directly to CEO Tim Cook.
Luca Maestri was born in Rome, Italy, on October 14, 1963. At 57 years old, he is the third oldest executive at Apple.
Maestri attended Luiss University to earn his Bachelor's Degree in Economics. Later he went on to receive his Master's in Science of Management from Boston University.
After earning his Master's in 1988, he spent 20 years at General Motors (GM) in Finance and Operations. He held senior management positions in the global markets of Ireland, Italy, Singapore, Brazil, and Thailand. He later became the CFO for GM's operations in 45 European countries.
Starting in 2000, he was appointed as the manager in charge of the development of the Fiat Alliance. In June 2005, he moved to Brazil to run financial operations for GM in Brazil and Argentina.
Four years later, he joined Nokia Siemens Networks as the Chief Financial Officer.
After two years at Nokia, Luca Maestri joined Xerox in 2011. At Xerox, he was the CFO in charge of all investor relations, risk management, tax and audit operations, mergers and acquisitions, and finance.
Luca Maestri at Apple
Maestri originally joined Apple in February 2013 as the Vice President of Finance and Corporate Controller. In this position, he worked closely with the Apple leadership team.
In May 2014, he became the CFO and Senior Vice President replacing Peter Oppenheimer as CFO. Oppenheimer went on to become a Goldman Sachs board member.
Luca Maestri co-hosts Apple's earning report calls with CEO Tim Cook. During earnings calls, Maestri reports on quarterly growth, projected growth in the future, and highlights notable achievements Apple has made in the previous quarter.
Successes at Apple
After Maestri was promoted, Apple celebrated a 90 percent tablet share in US Education with the iPad. In an announcement, he highlighted a St. Paul, Minnesota school district that bought 22,000 iPad Airs and 5,000 iPad minis.
Along with the iPad's success came IBM's first enterprise apps. Maestri said since the announcement of Apple's partnership with IBM, "hundreds of corporations around the world have expressed interest in Mobile First solutions. We are actively working with over 50 of them to become foundation clients for Mobile First solutions in their industries."
Issues while at Apple
As part of the leadership team at Apple, Maestri has had to deal with minor issues. For example, Apple had to delay its launch of the iPhone 12.
During the company's Q3 2020 earnings call, Luca Maestri said that, although Apple last started selling the iPhone 11 in late September 2019, Apple projects to supply of its 2020 devices to be "available a few weeks later." The iPhone 12 did not launch until late October 2020.
During 2020 and Q1 2021, Apple has had to deal with chip shortages due to the Coronavirus pandemic and above average demand.
Maestri expressed concerns because of the chip shortages. He stated that the supply constraints could cause Apple to see significant seasonal revenue declines heading into the June 2021 quarter.
Goldman Sachs Technology and Internet Conference
Following three appearances by Apple CEO Tim Cook in 2010, 2012, and 2013, Maestri spoke on behalf of the company at the Goldman Sachs Technology and Internet Conference. It wasn’t Maestri’s first appearance, as he had previously made an appearance there in 2012 on behalf of his then-employer Xerox.
In 2019, there was a charity auction to have lunch with Maestri at Apple Park. The winner also got a tour of the headquarters by an Apple employee.
The auction had an estimated value of $50,000.
Ferrari CEO Prospect
In December 2020, Maestri was rumored to be a prospect of Ferrari's search for a CEO. Ferrari is searching for a CEO after Louis Camilleri abruptly retired due to personal reasons.
Other candidates include former Apple CDO Jony Ive and, current CEO of Formula 1, Stefano Domenicali.
Ferrari still has not chosen a CEO. As a result, Ferrari Board Chairman John Elkann is the current acting interim CEO.