By David Goldman, August 3, 2009
Google Chief Executive Eric Schmidt resigned from Apple's board of directors Monday, citing conflicts of interest. Apple (AAPL, Fortune 500) said in a statement that the company and Schmidt reached a mutual decision to split ties as Google (GOOG, Fortune 500) enters new markets that directly compete with Apple's iPhone and Mac operating systems. "I have very much enjoyed my time on the Apple Board; it's a fantastic company," said Schmidt in a statement. "But as Apple explained today we've agreed it makes sense for me to step down now." Schmidt has been with Google since 2001 and on Apple's board since August 2006. Shares of Google rose 1.9%, while Apple's stock gained 1.6%. Rising conflicts. "Eric has been an excellent board member for Apple, investing his valuable time, talent, passion and wisdom to help make Apple successful," said Apple CEO Steve Jobs in a statement. "Unfortunately, as Google enters more of Apple's core businesses, with Android and now Chrome OS, Eric's effectiveness as an Apple board member will be significantly diminished."
Read more here -->Link
No comments:
Post a Comment