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Google CEO resigns from Apple board

(Xinhua)
Updated: 2009-08-04 03:46

SAN FRANCISCO: Google Inc's chief executive officer (CEO) Eric Schmidt is resigning from Apple Inc.'s board, Apple said on Monday, citing conflict of interests.

Google CEO Eric Schmidt talks to reporters at the Sun Valley Inn in Sun Valley, Idaho July 9, 2009. [Agencies]

"Eric has been an excellent Board member for Apple, investing his valuable time, talent, passion and wisdom to help make Apple successful," Steve Jobs, Apple's CEO, said in a statement.

Schmidt's resignation came as the two companies' businesses are increasingly overlapping and their competitions are intensifying.

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"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 noted.

Jobs said both companies mutually decided that "now is the right time for Eric to resign his position on Apple's Board."

It was reported that in recent months, the US Federal Trade Commission has been investigating whether Schmidt's seat on Apple' s board violated antitrust laws.

"I have very much enjoyed my time on the Apple board," Schmidt, who has been on Apple's board since August 2006, said in a separate statement.

"It's a fantastic company. But as Apple explained today we've agreed it makes sense for me to step down now," he added.