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

Article Related Press Releases (1) Related Articles (1) Related SEC Filings (1) Stock Quotes (2) Comments (0)

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.

---

Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW

---

*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here

---

---

You May Also Be Interested In

• Next Big Thing from Apple (AAPL) Could be a Big Flop - Analyst
• Brocade (BRCD) VP Resignation Viewed as Negative
• Images of First Apple (AAPL) iOS 7 Controller Hit Web

Create E-mail Alert Related Categories

Analyst Comments, Dividends, Management Changes

Related Entities

Barclays, Dividend

Add Your Comment

Name

Subject

Body

Share on Facebook

Verification
can't see the text?
click here to refresh the image.
what's this?