Apple promotes Michael Shapiro to treasurer, names four new VPs

Apple has reportedly filled the role of recently retired corporate treasurer Gary Wipfler, with Michael Shapiro to take the reins of the tech giant’s nearly $200 billion cash hoard.

Apple ParkFollowing up on a report airing Wipfler’s retirement last week, Bloomberg on Thursday said Apple has tapped Shapiro to take over for his former boss.Shapiro is a longtime money handler at Apple and is listed as a member of Braeburn Capital, the company’s Nevada-based asset management arm. As treasurer, Shapiro is expected to forward progress toward a cash neutral position, balancing Apple’s debut with its cash and securities, the latter of which stood at $194 billion at the end of the second quarter.

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