Could Apple's (AAPL) New Hire be the 'Maestro' of Shareholder Return?

January 11, 2013 3:49 PM EST Send to a Friend

Luca Maestri

Get Alerts AAPL Hot Sheet
Price: $102.99 +0.51%

Rating Summary:
    55 Buy, 10 Hold, 3 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 29 | Down: 28 | New: 24
Trade AAPL Now!
Join SI Premium – FREE
Earlier Friday, Xerox (NYSE: XRX) announced that its Chief Financial Officer, Luca Maestri, would be leaving the company to join Apple, Inc. (Nasdaq: AAPL) as its corporate controller. Barclays' Ben Reitzes thinks this is a positive for Apple holders, at least in terms of returning shareholder value.

Reitzes calls Maestri the "champion of shareholder return."

In addition, there might be a little management shuffle set to happen. Reitzes notes that current Apple CFO Peter Oppenheimer has held the position since 2004. Maestri might be poised to assume the role upon Oppenheimers retirement. (Note: Reitzes did not hint that there were any plans for Oppenheimer to retire.)

For Xerox, Reitzes doesn't see a change of its financial strategy in the works.

Apple currently pays a $10.60 annual dividend which yields two percent. The company also has well over $110 billion in cash, as of its latest quarterly filing.

Shares of Apple are down 0.6 percent on the session.


Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Analyst Comments, Dividends, Management Changes

Related Entities

Barclays, Dividend

Add Your Comment