iPhone News Desk
Steve Jobs' Two Empires Meet in Apple's Boardroom
Genentech's Levison Becomes Apple Chairman as Disney CEO Iger Joins Board
By: Maureen O'Gara
Nov. 15, 2011 05:55 PM
After the market closed Tuesday, Apple said that Disney CEO Bob Iger had joined the Apple board and that Genentech chairman and former CEO Arthur Levinson, a long-time Apple director, would replace the late Steve Jobs as chairman.
Jobs of course became Disney's largest shareholder when Iger bought his other company, Pixar, in 2006.
Levinson, Apple's co-lead director since 2005, has been on the board since 2000 and has served on all three of its committees, audit and finance, nominating and corporate governance, and compensation. He will continue to serve on the audit committee.
Iger, who's also on the board of the US-China Business Council and the President's Export Council, will also serve on the audit committee.
In a statement Apple CEO Tim Cook said of Iger's appointment, "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 is currently building a theme park in Shanghai and to break ground in April reportedly took 10 years of talks with the Chinese government.
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