Apple's chief financial officer executive vice president Fred Anderson will retire from his post June 1, Apple announced this afternoon.

Anderson will be succeeded by Apple senior vice president of finance and corporate controller Peter Oppenheimer (illustrated). Anderson will be appointed to Apple's board on his retirement, Apple said.

A grateful Apple CEO Steve Jobs said: "Fred has been one of my closest partners at Apple, and has earned the reputation as one of the finest CFOs in the technology industry. We're going to have a smooth handoff to Peter, who will be a great CFO for Apple, and we'll continue to benefit from Fred's contributions as a member of Apple's Board."

Anderson explained: "We have been grooming Peter for this role for four years and he is going to be a great CFO. Peter already has responsibility for almost all of Apple's financial departments and has done an excellent job leading them."

Anderson joined Apple as executive vice president and chief financial officer in March 1996. As CFO he oversees the controller, treasury, investor relations, tax, information systems, internal audit, facilities and human resources, and serves on the company's executive team.

Anderson came to Apple from Automatic Data Processing (ADP), where he was CFO. Anderson currently serves on the board of directors of eBay and E.piphany.

Oppenheimer joined Apple in July 1996 as controller for the Americas, and in 1997 was promoted to vice president and Worldwide Sales controller and then to corporate controller.

Previously he was a CFO (also) at ADP, before which he spent six years in the Information Technology Consulting Practice with Coopers and Lybrand.

Oppenheimer holds a bachelor's degree from California Polytechnic University and an MBA from the University of Santa Clara, both with honours.