Bill Campbell Retires From Apple's Board; Susan Wagner Named Replacement

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Bill Campbell Retires From Apple's Board; Susan Wagner Named Replacement
One of the most trusted advisers to late Apple CEO Steve Jobs is retiring from the iPhone maker's board of directors.

Bill Campbell's departure after 17 years on Apple Inc.'s board cleared the way for the company to appoint Susan Wagner, a founding partner of money manager Blackrock, as a director.

The 73-year-old Campbell worked in marketing as an Apple executive in the 1980s and joined the board in 1997 shortly after Jobs returned as the company's CEO. in U.S.

The changes announced Thursday come against a backdrop of criticism about a shortage of women in key positions at major technology companies.

Wagner becomes the second woman on Apple's eight-person board. Andrea Jung, the former CEO of Avon Products Inc., has been on Apple's board since 2008.

Wagner co-founded BlackRock in 1988 and helped it become one of the world's most successful asset-management companies, holding a range of leadership positions including vice chairman until mid-2012. She continues to serve on the boards of BlackRock and DSP BlackRock (India), as well as Swiss Re, Wellesley College and Hackley School.

"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."

"We conducted an exhaustive search for someone who would further strengthen our board's breadth of talent and background, and we are delighted to have identified such an outstanding individual," said Art Levinson, Apple's chairman. "I'm confident that Sue is going to make an important and positive impact on our company."

"I have always admired Apple for its innovative products and dynamic leadership team, and I'm honoured to be joining their board," said Wagner. "I have tremendous respect for Tim, Art and the other board members, and I look forward to working with them."

Written with inputs from AP
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