or Connect
AppleInsider › Forums › General › General Discussion › Apple CFO Peter Oppenheimer joins board of directors at Goldman Sachs
New Posts  All Forums:Forum Nav:

Apple CFO Peter Oppenheimer joins board of directors at Goldman Sachs

post #1 of 30
Thread Starter 
Banking firm Goldman Sachs announced on Monday that Peter Oppenheimer, who serves as chief financial officer of Apple, has joined its company's board of 13 directors effective immediately.

Oppenheimer


Oppenheimer will be a member of the Audit, Risk, Compensation and Corporate Governance, Nominating, and Public Responsibilities committees at Goldman Sachs. He will be one of 10 independent directors on the company's board.

"Peter's 25 years of broad experience across important industries will add a valuable perspective to our board of directors," said Lloyd C. Blankfein, chairman and CEO of Goldman Sachs. "We appreciate his willingness to serve as a director and look forward to benefitting from his judgment and counsel."

In addition to Goldman Sachs, Oppenheimer also serves on the boards of the California Polytechnic State University Foundation, as well as Sacred Heart Schools in Atherton, Calif.

Oppenheimer is a graduate of California Polytechnic and he has an MBA from the University of Santa Clara. He first joined Apple in 1996 when he served as senior director of Finance and controller for the Americas.

After serving as senior vice president and corporate controller from 2002 to 2004, Oppenheimer has spent the last decade as Apple's chief financial officer.
post #2 of 30
Hmm...

Proud AAPL stock owner.

 

GOA

Reply

Proud AAPL stock owner.

 

GOA

Reply
post #3 of 30

Peter's the one guy i'd send packing.

post #4 of 30

The Goldman Sachs of such moral standing?

 

http://www.rollingstone.com/politics/news/the-people-vs-goldman-sachs-20110511

 

Didn't Tim just school some stockholder about doing the right thing the other day?


Edited by Bergermeister - 3/3/14 at 7:16am

 

Your = the possessive of you, as in, "Your name is Tom, right?" or "What is your name?"

 

You're = a contraction of YOU + ARE as in, "You are right" --> "You're right."

 

 

Reply

 

Your = the possessive of you, as in, "Your name is Tom, right?" or "What is your name?"

 

You're = a contraction of YOU + ARE as in, "You are right" --> "You're right."

 

 

Reply
post #5 of 30
Originally Posted by mdriftmeyer View Post
Peter's the one guy i'd send packing.

 

I am become debt, destroyer of companies.

Originally Posted by Slurpy

There's just a TINY chance that Apple will also be able to figure out payments. Oh wait, they did already… …and you’re already fucked.

 

Reply

Originally Posted by Slurpy

There's just a TINY chance that Apple will also be able to figure out payments. Oh wait, they did already… …and you’re already fucked.

 

Reply
post #6 of 30

It is good for Apple to have interlocking directorates with other big, powerful corporations.  The multinationals all make more money when they work together closely, and having corporate officers and directors across industries helps out a lot.

post #7 of 30
Quote:
Originally Posted by mdriftmeyer View Post

Peter's the one guy i'd send packing.
I wouldn't be surprised if he retires this year.
post #8 of 30
Isn't this a basic conflict of interest? Goldman Sachs raises and lowers their guidance for Apple's stock value all of the time based on many viewpoints and outside market considerations but never directly from an Apple employee on the inside.

Can someone explain to me why the SEC wouldn't be all over this?
post #9 of 30
Quote:
Originally Posted by wigby View Post

Isn't this a basic conflict of interest? Goldman Sachs raises and lowers their guidance for Apple's stock value all of the time based on many viewpoints and outside market considerations but never directly from an Apple employee on the inside.

Can someone explain to me why the SEC wouldn't be all over this?

Because it has absolutely nothing to do with Football.

 

oh, wait, wrong forum.

 

On second thought, the SEC investigations are about as thorough as the SEC investigations.

just waiting to be included in one of Apple's target markets.
Don't get me wrong, I like the flat panel iMac, actually own an iMac, and I like the Mac mini, but...........
Reply
just waiting to be included in one of Apple's target markets.
Don't get me wrong, I like the flat panel iMac, actually own an iMac, and I like the Mac mini, but...........
Reply
post #10 of 30
Quote:
Originally Posted by wigby View Post

Isn't this a basic conflict of interest? Goldman Sachs raises and lowers their guidance for Apple's stock value all of the time based on many viewpoints and outside market considerations but never directly from an Apple employee on the inside.

Can someone explain to me why the SEC wouldn't be all over this?

 

It's a pretty opportunistic system.   CEO's of companies often hop on boards of companies and can swing influence toward their products.  The only thing stopping them from abusing the system is their impeccable ethics.  But that is the system, and the people with the best experience to run Goldman Sachs or other financial firms are on other large corporations boards.  Obviously telling Goldman to buy or sell Apple based on his inside information would be wrong.

 

While it is wide open to potential sleaze, it is also the norm.  Should he be treated special because he's "Apple" when other board members are also currently board members of companies like Pepsi, Target, Walmart, Cisco, EADS, Exxon Mobil etc?

post #11 of 30
Quote:
Originally Posted by Frood View Post
 

While it is wide open to potential sleaze, it is also the norm.  Should he be treated special because he's "Apple" when other board members are also currently board members of companies like Pepsi, Target, Walmart, Cisco, EADS, Exxon Mobil etc?

I think he will be treated special (but not in the good way) because he is the CFO of the largest company in the world. I think it's better to stay out of such entanglements. 

post #12 of 30
Quote:
Originally Posted by mdriftmeyer View Post
 

Peter's the one guy i'd send packing.

Pray tell...why is that? From my view, he's been an excellent steward of Apple's assets.

For your sake, I hope you're right.
Reply
For your sake, I hope you're right.
Reply
post #13 of 30
Quote:
Originally Posted by Bergermeister View Post
 

The Goldman Sachs of such moral standing?

 

http://www.rollingstone.com/politics/news/the-people-vs-goldman-sachs-20110511

 

Didn't Tim just school some stockholder about doing the right thing the other day?

Perhaps Peter can try to steer Goldman in a better direction.

For your sake, I hope you're right.
Reply
For your sake, I hope you're right.
Reply
post #14 of 30
Quote:
Originally Posted by Carthusia View Post
 

Pray tell...why is that? From my view, he's been an excellent steward of Apple's assets.

 

I don't like his conference calls when he fails to explain things clearly.  Two conference calls ago he failed to mention the new accruals that drove down gross margin.  It was only mentioned once an analysis asked about it.

 

Second I don't like the warranty accrual, software accrual that is hurting gross margin and net income.  IMO they are being way to conservative and are deferring way too much revenue.

post #15 of 30
Quote:
Originally Posted by Carthusia View Post

Pray tell...why is that? From my view, he's been an excellent steward of Apple's assets.

 



That's the same thing I'm wondering. Why do we not like Oppenheimer?
post #16 of 30
Quote:
Originally Posted by sog35 View Post

 

I don't like his conference calls when he fails to explain things clearly.  Two conference calls ago he failed to mention the new accruals that drove down gross margin.  It was only mentioned once an analysis asked about it.

 

Second I don't like the warranty accrual, software accrual that is hurting gross margin and net income.  IMO they are being way to conservative and are deferring way too much revenue.

 



That would lower the amount they have to pay in taxes though, right? I don't know if you want to continually kick that can down the road, but if it's saving them some money then I can see it.
post #17 of 30

I'd fire him for that.

There are few worse companies than Sachs in the whole world.

 

They helped Greece hide their economic problems and made 300 million dollars out of it, while the population in Greece now suffers a lot for that. They are criminals.

post #18 of 30
Quote:
Originally Posted by AppleInsider View Post


This comment has nothing connected to Mr. Oppenheimer's new additional posting to the BOD of Goldmans, rather it is a comment and reflection in general to those who serve in BODs especially when these members hold other significant corporate roles! How can anyone serve two masters equally? One cannot. Any corporate 500 job is more than enough responsibility and work effort to keep anyone fully occupied 40+ hours a week, so another equally important job becomes physically impossible or else these BOD positions are mere veneer positions that have little related to overseeing a company. This is a sobering conclusion and it alludes to the state of affairs so prevalent in corporate America.
post #19 of 30
Quote:
Originally Posted by Carthusia View Post

Quote:
Originally Posted by Bergermeister View Post

 
The Goldman Sachs of such moral standing?

http://www.rollingstone.com/politics/news/the-people-vs-goldman-sachs-20110511

Didn't Tim just school some stockholder about doing the right thing the other day?
Perhaps Peter can try to steer Goldman in a better direction.

Clearly that is the perception GoldmanSachs would like people to have, but I think the vampire squid is thoroughly and fundamentally corrupt. This association will only
diminish Oppenheimer's reputation and make Apple's altruistic gestures look hypocritical.
post #20 of 30

Welcome to the club Peter. 

post #21 of 30
Quote:
Originally Posted by Future Man View Post

Quote:
Originally Posted by AppleInsider View Post


This comment has nothing connected to Mr. Oppenheimer's new additional posting to the BOD of Goldmans, rather it is a comment and reflection in general to those who serve in BODs especially when these members hold other significant corporate roles! How can anyone serve two masters equally? One cannot. Any corporate 500 job is more than enough responsibility and work effort to keep anyone fully occupied 40+ hours a week, so another equally important job becomes physically impossible or else these BOD positions are mere veneer positions that have little related to overseeing a company. This is a sobering conclusion and it alludes to the state of affairs so prevalent in corporate America.

BOD positions are not full-time jobs.
post #22 of 30
Quote:
Originally Posted by mdriftmeyer View Post
 

Peter's the one guy i'd send packing.

Well, it's a very good thing you're not in any position to do that.

 

So remind us... exactly what can you do?

post #23 of 30
Quote:
Originally Posted by Freshmaker View Post
 
Quote:
Originally Posted by Carthusia View Post
 

Pray tell...why is that? From my view, he's been an excellent steward of Apple's assets.

 



That's the same thing I'm wondering. Why do we not like Oppenheimer?

He's the token Apple troll target of the month, a seemingly harmless, and by that I mean wildly successful, employee of a wildly successful company.

post #24 of 30
Quote:
Originally Posted by Future Man View Post


This comment has nothing connected to Mr. Oppenheimer's new additional posting to the BOD of Goldmans, rather it is a comment and reflection in general to those who serve in BODs especially when these members hold other significant corporate roles! How can anyone serve two masters equally? One cannot. Any corporate 500 job is more than enough responsibility and work effort to keep anyone fully occupied 40+ hours a week, so another equally important job becomes physically impossible or else these BOD positions are mere veneer positions that have little related to overseeing a company. This is a sobering conclusion and it alludes to the state of affairs so prevalent in corporate America.

Or sometimes they are people in related or unrelated fields, hopefully successful, that can provide trusted judgement, guidance, opinions, or just a confidential sounding board to the leadership of a company.  

 

But please... Illuminati away for us...  I'd hate to miss out on seeing a blatant eye pyramid that symbolizes a secret sect of lizardoid aliens.

Look out... Kor-po-ra-shuns! A ding dang doo!  

:smokey:

post #25 of 30
Quote:
Originally Posted by redefiler View Post
 

Well, it's a very good thing you're not in any position to do that.

 

So remind us... exactly what can you do?

 

Clearly make you piss yourself enough to whine about my statement.

 

Oppenheimer has never been well liked at Apple. He got the job after Fred screwed up. I saw Peter on a daily basis. Fred was a vortex of conversation with everyone. Peter was a black hole everyone ignored.

post #26 of 30
Quote:
Originally Posted by mdriftmeyer View Post
 

 

Clearly make you piss yourself enough to whine about my statement.

 

Oppenheimer has never been well liked at Apple. He got the job after Fred screwed up. I saw Peter on a daily basis. Fred was a vortex of conversation with everyone. Peter was a black hole everyone ignored.

Uh-huh.  :rolleyes:  

 

And I slept with Jennifer Lawrence last night, and she said that Fred wasn't as good as Peter at conversation, so he was a better CFO in bed or something...

 

How are the fiction novels going?

post #27 of 30
Quote:
Originally Posted by redefiler View Post
 

Uh-huh.  :rolleyes:  

 

And I slept with Jennifer Lawrence last night, and she said that Fred wasn't as good as Peter at conversation, so he was a better CFO in bed or something...

 

How are the fiction novels going?

You might want to park your skepticism at the door and consider the fact he might actually know what he's talking about. There are actually ex-Apple and ex-NextStep employees and other people who ran Apple retailers, etc., on these boards. He most likely knows exactly what he's talking about. So unless you can prove you have a stronger connection to Apple than he does, you're being rude.

post #28 of 30
Quote:
Originally Posted by LighteningKid View Post
 

You might want to park your skepticism at the door and consider the fact he might actually know what he's talking about. There are actually ex-Apple and ex-NextStep employees and other people who ran Apple retailers, etc., on these boards. He most likely knows exactly what he's talking about. So unless you can prove you have a stronger connection to Apple than he does, you're being rude.

Considering Oppenheimer's been at Apple for almost 20 years, and how well the company's been doing since 2006 and he was Jobs' choice for a replacement for Anderson as CFO, I think we deserve a little more than 'he wasn't personable' opinion from a former engineer in a different department as a professional testimony.  Especially considering this was Steve Jobs' company, was he a bad CEO because he was unfriendly at times? :rolleyes:
 
For now, the benchmark of Oppenheimer's performance is the company's financials: which are nothing short of outstanding.  They can have any CFO they want, but they appointed their former corporate controller, which should be a clear sign on how Apple feels about the guy.  

 

If some ex Apple employee wants to talk smack about a guy's personality as a testament to his professionalism, then he deserves no special handling or respect.

post #29 of 30
Quote:
Originally Posted by redefiler View Post
 
Considering Oppenheimer's been at Apple for almost 20 years, and how well the company's been doing since 2006 and he was Jobs' choice for a replacement for Anderson as CFO, I think we deserve a little more than 'he wasn't personable' opinion from a former engineer in a different department as a professional testimony.  Especially considering this was Steve Jobs' company, was he a bad CEO because he was unfriendly at times? :rolleyes:
 
For now, the benchmark of Oppenheimer's performance is the company's financials: which are nothing short of outstanding.  They can have any CFO they want, but they appointed their former corporate controller, which should be a clear sign on how Apple feels about the guy.  

 

If some ex Apple employee wants to talk smack about a guy's personality as a testament to his professionalism, then he deserves no special handling or respect.

I never denied that he was chosen for a reason and I didn't say he's not doing a good job. You used the word "fiction" and gave a silly scenario, implying that mdriftmeyer was lying about what he said; but all he said in that post was that Oppenheimer's not the most friendly guy, and I was trying to say that he'd likely know whether that's true. If your point was not "mdriftmeyer is making this up", then it wasn't clear. I guess from what you posted to me that you were trying to tell mdriftmeyer that just because he's not nice doesn't mean he should be "sent packing", but the word "fiction" doesn't really apply in that case.

post #30 of 30
Quote:
Originally Posted by Rogifan View Post


I wouldn't be surprised if he retires this year.

Prescient!

"If the young are not initiated into the village, they will burn it down just to feel its warmth."
- African proverb
Reply
"If the young are not initiated into the village, they will burn it down just to feel its warmth."
- African proverb
Reply
New Posts  All Forums:Forum Nav:
  Return Home
  Back to Forum: General Discussion
AppleInsider › Forums › General › General Discussion › Apple CFO Peter Oppenheimer joins board of directors at Goldman Sachs