Apple Inc. (NASDAQ:APPL) has announced that BlackRock, Inc. (NYSE:BLK) founding partner, Susan Wagner, has been elected to the Apple Inc. (NASDAQ:APPL)’s board of directors, while Google Inc (NASDAQ:GOOGL)’s Chief Business Officer, Nikesh Arora, is leaving for SoftBank. Dominic Chu and Jon Fortt discussed these boardroom reshuffles at the technology giants on CNBC.
Chu reported that Hewlett-Packard Company (NYSE:HPQ) recently had a change in the top management.Apple Inc. (NASDAQ:APPL)’s new Board Member, Susan Wagner, a founding partner, a co-founder and director at BlackRock, Inc. (NYSE:BLK), the world’s biggest asset manager will replace Bill Campbell, who is retiring from the board after 17 years of service. Campbell had been part of the Apple Inc. (NASDAQ:APPL) family since 1983 as Vice President of Marketing.
Tim Cook, the CEO of Apple Inc. (NASDAQ:APPL) said in the statement, quoted by Chu: “We believe, her, Sue Wagner’s strong experience especially in M&A and building a global business across both developing and emerging markets will be extremely valuable as Apple Inc. (NASDAQ:APPL) continues to grow around the world.”
“Bill Campbell is one of these iconic figures in Silicon Valley known as the coach. He has taught many executives from Steve Jobs to Google Inc (NASDAQ:GOOGL) guys how to run a company. So after 17 years, he is stepping down,” mentioned Jon Fortt.
He considers that Sue Wagner, specifically with her emerging markets experience would enable Apple Inc. (NASDAQ:APPL) to capitalize on the iPhone and the iPad opportunity there as well.
Fortt also reported that Nikesh Arora was leaving Google Inc (NASDAQ:GOOGL) to join SoftBank Corp where he would be in the high power role of CEO for their internet business. Omid Kordestani, seen as the godfather of the Google Inc (NASDAQ:GOOGL) revenue model, will replace him.
Susan Wagner’s addition to the board has been seen as welcome move, given that companies which have added women to their top management and board tend do better. Additionally, Wagner’s M&A experience bodes well for Apple Inc. (NASDAQ:APPL) as there has been little M&A activity and few strategic alliances. Susan Wagner’s entry would bring in a master plan for Apple Inc. (NASDAQ:APPL)’s money flow.