Apple Approached Blackstone Group’s CFO Laurence Tosi To Be Their Chief Of Finance
Apple Inc. (NASDAQ:AAPL) is rumored to be talking to Blackstone Group’s Laurence Tosi to replace Peter Oppenheimer as the company CFO. Tosi told Blackstone CEO Stephen Schwarzman that he is planning to stay instead of joining Apple. However an Apple spokesman said that Apple is not looking for a new CFO.
Oppenheimer became CFO of Apple in 2004 when he replaced Fred Anderson. Anderson is one of the co-founders of private equity firm Elevation Partners. Oppenheimer has been working at Apple since 1996.
Apple’s executive team has a lot of money to play around with. Their cash holdings and short term investments climbed to $25.6 billion. Three years ago the company had $15.4 billion. Tosi has a lot of experience with corporation acquisitions. Blackstone Group made 30 acquisitions in the last year. Apple has a market valuation of $306.8 billion.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry