Tuesday, November 15, 2011, 02:15 pm PT (05:15 pm ET)
Disney CEO Bob Iger joins Apple board as Art Levinson named ChairmanApple has named Arthur D. Levinson, Ph. D. as its new non-executive Chairman of the Board, while adding Disney chief executive Robert Iger to its board.
Levinson becomes chairman
Levinson replaces Steve Jobs in the chairman role, who was briefly named Apple's chairman following his resignation as its chief executive.
Levinson has served as a co-lead director on Apple's board since 2005, and has served on three board committees audit and finance, nominating and corporate governance, and compensation. Apple noted he will continue to serve on the audit committee.
Levinson also serves as the chairman of Genentech, Inc., a biotech firm he lead as chief executive from 1995 through 2009, and is a member of the board of directors at pharmaceutical firm Roche.
Apple's new chief executive Tim Cook said in a statement that Art has made enormous contributions to Apple since he joined the board in 2000. He has been our longest serving co-lead director, and his insight and leadership are incredibly valuable to Apple, our employees and our shareholders.
Levinson stated, I am honored to be named chairman of Apples board and welcome Bob to our team. Apple is always focused on out-innovating itself through the delivery of truly innovative products that simplify and improve our lives, and that is something I am very proud to be a part of.
Iger joins Apple board
Walt Disney Company chief executive Iger is joining Apples board and will also serve on the audit committee. Iger helped to rebuild the partnership between Disney and Jobs' Pixar after the two companies grew estranged under the leadership of his predecessor at Disney, Michael Eisner.
Jobs and Iger worked together in a close partnership that brought Disney's content to iTunes at a time when other studios hesitated to make their TV shows and movies available, and the two presided over Disney's 2006 acquisition of Pixar, a move that revitalized the media company.
Bob and I have gotten to know one another very well over the past few years and on behalf of the entire board, we think he is going to make an extraordinary addition to our already very strong board, Cook said.
His strategic vision for Disney is based on three fundamentals: generating the best creative content possible, fostering innovation and utilizing the latest technology, and expanding into new markets around the world which makes him a great fit for Apple.
Iger stated, Apple has achieved unprecedented success by consistently creating high quality, truly innovative products, and I am extremely pleased to join the board of such a wonderful company.
Over the years, I have come to know and admire the management team, now ably led by Tim Cook, and I am confident they have the leadership and vision to ensure Apples continued momentum and success.
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