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BlackRock's Susan Wagner Joins Apple's Board of Directors, Replacing Bill Campbell

Thursday July 17, 2014 1:45 pm PDT by Juli Clover
suewagnerApple today issued a press release announcing that Susan Wagner, founding partner and director of BlackRock has joined its board of directors. BlackRock, which owns 2.82 percent of Apple, is a well-known investment management corporation, co-founded by Wagner in 1988.

Wagner will replace Bill Campbell, who has served on Apple's Board of Directors for 17 years.
"Sue is a pioneer in the financial industry and we are excited to welcome her to Apple's board of directors," said Tim Cook, Apple's CEO. "We believe her strong experience, especially in M&A and building a global business across both developed and emerging markets, will be extremely valuable as Apple continues to grow around the world."
Wagner has been recognized as one of Fortune Magazine's 50 Most Powerful Women in Business and has also been honored by the National Council for Research on Women. She supports the Women's Initiative Network at BlackRock, which is designed to "foster the full potential of women" within the company.

Earlier this month, a report from The Wall Street Journal suggested Apple CEO Tim Cook was looking to add new members to Apple's Board of Directors, as several members of the existing board are older than 63 and have served for more than a decade.

Apple has faced criticism over its lack of female leadership, which Cook has been aiming to remedy. Wagner's appointment to the board follows the high-profile hire of Angela Ahrendts, who joined Apple as head of retail earlier this year. Wagner is the second female on Apple's board, joining Andrea Jung, who has served since 2008.

Art Levinson, Apple's chairman, said in the company's press release that the board "conducted an exhaustive search" for someone who could strengthen the board's "breadth of talent and background." Wagner herself says she's always admired Apple and is "honored to be joining [the] board."

(Image courtesy of TIME)
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jonblatho
55 months ago

Is it me or has Apple been hiring women a lot lately in executive positions?

Wonder if Tim likes eye candy in the office :)


If Tim likes eye candy in the office, I'd think they'd be hiring more men. ;)
Rating: 9 Votes
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HiRez
55 months ago
I'm sure she won't be looking out for the best interests of her billions of investments, but for the good of the company. Isn't that a conflict of interest? By the nature of being on the board, she will have inside information. But I'm sure none of that will reach any of her partners, right?
Rating: 8 Votes
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IJ Reilly
55 months ago

Tim specifically called out M&A. Hmm....Apple's got something it's sleeve I think.

Now they just need to replace Al Gore with someone big in the tech industry. Like Elon Musk, perhaps?


I'm not a fan of Elon Musk being on Apple's board. Granted he brings his own rock star persona but then so would Steve Jobs, and I don't think anyone would much have wanted Steve on their board. These are people who are too used to running things their way. The Board of Directors is more about oversight.

BTW, contrary to the article Wagner will not actually "join" Ahrendts. The former will sit on the board, and the latter is an executive. These are very different roles.

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Smart, rich and hot. I like that combination in a woman. I'm sure she will an asset to Apple.


Go ahead, be the first to creep us out. Somebody had to do it.
Rating: 8 Votes
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Rogifan
55 months ago
Tim specifically called out M&A. Hmm....Apple's got something it's sleeve I think.

Now they just need to replace Al Gore with someone big in the tech industry. Like Elon Musk, perhaps?
Rating: 8 Votes
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2IS
55 months ago

It would be closer to high school than middle school, so it depends on how you define okay.


I'd rather act like I'm in HS than act like a prude.

"oh noooes, he said "hot" that's so creepy" Jesus... :rolleyes:
Rating: 5 Votes
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IJ Reilly
55 months ago

Is it possible that a woman can be mentioned without people taking her looks into consideration and commenting about it? Hot or not, average, whatever, it matters none.


Apparently not, and it seems to be wrong to even to point out a lack of maturity at work.
Rating: 4 Votes
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IJ Reilly
55 months ago

I'd rather act like I'm in HS than act like a prude.

"oh noooes, he said "hot" that's so creepy" Jesus... :rolleyes:


Acting like a grownup is now the same as being a prude? I must have missed that memo.
Rating: 4 Votes
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FrizzleFryBen
55 months ago
Is it possible that a woman can be mentioned without people taking her looks into consideration and commenting about it? Hot or not, average, whatever, it matters none.
Rating: 4 Votes
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SoAnyway
55 months ago
She's from an investment company but how well does she know tech?
Rating: 3 Votes
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Apple Corps
55 months ago

It isn't really the board's job to make investment decisions, but it could not hurt to have someone on the board with a very good grasp of how to read financial reporting.


It actually IS the Board's role to approve investment decisions / strategies. The Finance committee of the board overviews the CFO / Treasury investment strategy. Been there / done that.
Rating: 3 Votes

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