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Monday, August 3, 2009

Google CEO Leaves Apple Board - Genetech CEO Stays

Isn't Genentech CEO Arthur Levinson's presence is also being questioned by the FTC? If so, why is he staying?
clipped from arstechnica.com
Google CEO Eric Schmidt has decided to walk away from Apple's Board of Directors after several months of controversy over whether his presence is anticompetitive. Apple says that he will be missed, though the other member who is on both boards appears to still be there.
Breakin' up is hard to do: Schmidt leaves Apple board

Although the FTC probe launched in May may not have forced Schmidt to leave, it seems as if both companies decided it was in his (and the investors') best interest if they parted ways.

Apple CEO Steve Jobs said 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, since he will have to recuse himself
FTC launched a probe into the two companies to see whether competition between them had been reduced thanks to Schmidt's (and Genentech CEO Arthur Levinson's) presence on Apple's board
forced Schmidt to discuss the issue with the board

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