Apple Plucks Xerox CFO

For the third time in a row, Luca Maestri replaces a retiring finance executive at a new company. StaffJanuary 11, 2013

Xerox CFO Luca Maestri told the office-copier company Monday that he was resigning as of February 28 to become Apple’s corporate controller, Xerox reported in an 8-K filing today.

As corporate controller, Maestri will work under Apple CFO Peter Oppenheimer. In assuming a role left vacant when Betsy Rafael retired from Apple in October, Maestri for the third time in a row replaces a retiring finance executive at a new company.

In 2011 Maestri moved from Nokia Siemens Networks to replace Lawrence Zimmerman, who retired as finance chief of Xerox on February 26 of that year. In 2008, when Maestri became CFO of Nokia Siemens, he replaced the retiring Eric Simonsen.

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Before then, Maestri’s career was a good deal more stable. A 20-year employee of General Motors, he served as CFO of GM Europe and GM Brazil, and was executive-in-charge of the Fiat Alliance for GM Europe in Switzerland.

Indeed, the new Apple controller has had a penchant for working in different countries. Born in Italy, Maestri has lived in more than a half-dozen locations, including Thailand, Brazil, and Ireland. Thus, when Xerox was asking recruiters to find CFO candidates with “broad global industry experience,” Maestri was a logical choice, The Wall Street Journal reported.