PRESS RELEASE March 4, 2014

In Planned Transition, Luca Maestri to Become His Successor

As CFO, Peter oversees the controller, treasury, investor relations, tax, information systems, internal audit and facilities functions. He started with Apple in 1996 as controller for the Americas, and in 1997 was promoted to vice president and Worldwide Sales controller and then promoted to corporate controller prior to being named CFO. As Apple’s annual revenue has grown more than twentyfold during his time as CFO, Peter has overseen development of a disciplined global financial strategy, robust systems and procedures, and a very strong balance sheet. Under his leadership, Apple has built a world-class finance team. Peter has managed facilities expansion including the addition of four data centers and Apple’s new campus in Cupertino, all of which will be powered by renewable energy.

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