After Apple's former treasurer, Gary Wipfler, retired, the company had not yet announced a new treasurer. Now, reports say Michael Shapiro will take on the role.
Since Apple has not yet made this promotion public, appointed Bloomberg cites informed sources in a new article. According to this, Apple's new treasurer is Michael Shapiro. He is a long-time executive at Apple and works on the company's books as a member of the Cash Management Group based in Reno, Nevada. With this change, Apple wants to soon achieve net cash status:
The Cupertino company ended last quarter with $194 billion in cash and marketable securities. But Apple has been working to reduce its balance to reach net cash neutral status, meaning the company will have an equal amount of cash and debt.
Apple: Number of 100 vice presidents cracked
Mark Gurman also reports that with Wipfler's departure and Shapiro's appointment as the new treasurer, a wave of promotions also took place at Apple. The report documents at least four new vice presidents. Specifically, Alan Gilchrist was promoted to vice president of engineering for custom silicon and battery technology, Eden Sears was promoted to vice president of brand for the entire company, and Craig Federighi promoted Stacey Lysik and Ron Huang to new vice presidents. This means that Apple now has over 100 vice presidents reporting to a group of senior vice presidents or directly to CEO Tim Cook, CFO Lucas Maestri, or COO Jeff Williams. (Photo by Unsplash / Carles Rabada)
