Google CEO Eric Schmidt Resigns From Apple's Board Of Directors
Google CEO Eric Schmidt has resigned from Apple's Board of Directors, which he has been a member of since 2006. Apple cites competitive reasons for Schmidt's dismissal. Apple and Google are increasingly competing in the same market niches, so Schmidt's stay with the Board would have created a conflict of interest, according to a statement from Apple. Google Android is used in mobile devices that compete with Apple's iPhone. Google is also looking to develop a new operating system based on its Chrome browser. The Federal Trade Commission is investigating whether the coalition efforts between Goole and Apple is discouraging competition.
“Eric has been an excellent Board member for Apple, investing his valuable time, talent, passion and wisdom to help make Apple successful,” said Steve Jobs, Apple’s CEO. “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 from even larger portions of our meetings due to potential conflicts of interest. Therefore, we have mutually decided that now is the right time for Eric to resign his position on Apple’s Board.”
"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."