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Apple today announced that Art Levinson has been named Chairman of the Board of Directors. The former Genentech executive has served on Apple's board since 2000 and has been a co-lead director since 2005. In addition, Disney president and CEO Bob Iger has been named to the board.
“Art has made enormous contributions to Apple since he joined the board in 2000,” said Tim Cook, Apple’s CEO. “He has been our longest serving co-lead director, and his insight and leadership are incredibly valuable to Apple, our employees and our shareholders.”
“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,” said Tim Cook. “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.”
Levinson had served on all three of the board's committees, and will continue to serve on the audit committee following his elevation to chairman. Iger will also serve on the audit committee.
Disney and Apple have a relatively close relationship given that Disney had purchased Pixar back in 2006 when it was owned by Steve Jobs. Jobs had subsequently served on Disney's board of directors and was the company's largest individual shareholder.
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Apple's Market Cap has nothing to do with whether they can afford to acquire Disney.DIS Mkt cap 64.23B
AAPL Mkt cap 361.38B
https://www.google.com/finance?q=NASDAQ%3AAAPL
https://www.google.com/finance?q=NYSE%3ADIS
I think they can afford it:D
So after Steve's death all this dude's done is change the company all over. I'd be kinda pissed if I owned stock. Comment doesn't really relate to this event, just that we keep seeing these stories again and again.
If you read the Steve Jobs biography you'd know that he really respected both Levinson and Iger. Steve was the largest shareholder of Disney, and worked directly with Iger to facilitate Disney's purchase of Pixar in 2006. So to imply that making Levinson chairman and adding Iger to the board are things that Steve would have disagreed with is just wrong.
Steve's dead. He's nothing.
If you meant "Steve wasn't an idiot", then say that.
Well, if the rumoured "even thinner" 15" MacBook comes with an external USB 3.0 Blu-ray Disc burner - then we'll know that Tim got the message.
If it's a bigger MacBook Air, Tim didn't get the message.
The world beyond the end of your nose must be a deeply confusing, troubling place for you.
It is clear to me after nearly completing his bio, that this is exactly the type of thing Steve would want for his baby.
Good choice.
Now how long until Jony Ive takes over?
I don't think you will ever see Ive take over as Apple's CEO. Even though Steve called him a soulmate of sorts in his bio, Ive has shunned the spotlight and shown no inclination that he wants the responsibility of being a CEO. He's also too nice a guy. I think Scott Forstall would be more a likely candidate after Cook. He appears to have the right mix of genius, tyrant and a****** to be the next Steve. Before anyone flames me for insinuating Steve is a sphincter, Steve admits it several times in Isaacson's bio. It's part of the recipe for success.