Apple’s chief financial officer Peter Oppenheimer is doing quite well for himself these days… even better than Apple CEO Tim Cook.
According to the most recent industry data compiled by Bloomberg, Oppenheimer is now the highest paid chief financial officer in the world.
Last year, Apple’s finance boss was compensated $69 million. Apple’s strong financial performance enabled to company to reward Oppenheimer with copious amounts of financial rewards for doing his part to make Apple the cash king that it is.
By comparison, only $4.17 million was awarded to Apple Chief Executive Officer Tim Cook in 2012.
David Larcker, a professor of accounting at the Stanford Graduate School of Business in Stanford, California, says that CFOs play a critical role in large companies today.
“They’re a key part of the organization and they’re paid accordingly,” Larcker tells Bloomberg. “It would be very surprising if their performance evaluation wasn’t heavily weighted to minimizing corporate taxes. That’s their job.”