Google's CEO Steps Down From Apple's Board
August 4, 2009 at 5:07 AM (PT)
GOOGLE CEO ERIC SCHMIDT is stepping down from the board of APPLE. In a statement, APPLE CEO STEVE JOBS said YESTERDAY (8/3) that SCHMIDT was exiting because their businesses increasingly overlap, forcing SCHMIDT to sit out of more and more meetings.
"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," JOBS said.
SCHMIDT said he enjoyed his time on APPLE's board, calling it a "fantastic company. But as APPLE explained today we've agreed it makes sense for me to step down now."