BoardOfDirectors
Latest
Amazon shareholders will vote to ban facial recognition tech
Amazon shareholders will vote to ban the company's controversial facial recognition technology next week in a key symbolic process. Amazon set the vote date, May 22nd, after the US Securities and Exchange Commission (SEC) rejected the company's request to have the motion squashed. A group of shareholders, led by nonprofit Open MIC, asked Amazon's board to stop selling the deep learning tools until a third party can confirm "it does not cause or contribute to actual or potential violations of human rights."
California requires companies to include women on their boards
On Sunday, California Governor Jerry Brown signed a bill into law that will require publicly traded companies headquartered in the state to have women on their boards of directors. As per the law, by the end of next year, these companies must include at least one woman on their boards and by 2021, they'll be required to have up to three depending on how many directors make up their boards. Those found to be in violation of the law will initially be fined $100,000, and subsequent violations will result in fines of $300,000.
Marissa Mayer to resign from Yahoo's board of directors
Marissa Mayer has been virtually synonymous with Yahoo ever since she took the helm, but things are about to get a bit muddier now that the Verizon's acquisition is near closing. Yahoo has announced that Mayer, co-founder David Filo and four other people are resigning from the company's board of directors once Verizon officially takes control. According to the SEC filing, it's "not due to any disagreement" with how the business is run -- it's just that Yahoo will technically be considered an investment company once the buyout wraps up, and doesn't believe it needs more than five people on its board after that.
Apple CEO Tim Cook takes a new role on Nike's board
A leadership change at Nike is affecting Tim Cook's role with the apparel maker slightly. Cook, a Nike board member since 2005, is now the lead independent director of the board. The reason why Nike needs one now is because founder Phil Knight is retiring from his position as chairman of the board.
Twitter appoints BET CEO Debra Lee to Board of Directors
Following through on an earlier promise to diversify the company and better reflect its user base, Twitter CEO Jack Dorsey announced today that BET CEO and Chairwoman Debra Lee will join the company's board of directors. Lee will also head up the company's Nominating/Governance committee.
Twitter's two new board members include one who actually tweets
This morning Twitter announced it's swapping out two board members for new faces. In the filing, it revealed that Peter Currie and Peter Chernin will step down after the annual meeting, to be replaced by Pepsi exec Hugh Johnston and UK entrepreneur Martha Lane Fox. Most notable about these additions is that in Fox, the board will have a director who is a prolific tweeter with over seventeen thousand posts on her account, while Hugh has... 2 (both posted today).
AI algorithm takes seat on investment company's board
The coming robot apocalypse will need robot executives to rule over it, but it looks like they're going to have to start with more mundane business first. A Hong Kong venture capital firm has just "appointed" an artificial intelligence tool called VITAL to its board of directors to help find promising investments. It'll scan things like financing, IP and clinical trials from prospective companies, share that info with the board and even cast the sixth vote. So far, it's helped find two promising outfits already, though it hasn't voted yet. Still, the main goal is to "draw attention to it as an independent decision maker," according to the company. And draw publicity to itself, no doubt.
Sony nominates three new board members, looks for fresh perspective
While Sony has been improving its bank balance as of late, most of that turnaround has come through job cuts and office sales -- the company needs new strategies to thrive in the long run. Accordingly, the firm has nominated three new board directors with experience outside of its core electronics divisions. Tim Schaaff (at right) is a relative insider with his board position at media-focused Sony Network Entertainment, but the same can't be said for his two peers. Eikoh Harada (left) has been turning around McDonald's Japan as its CEO, while Joichi Ito (center) is well-known for his roles as the director of MIT's Media Lab and the founder of Digital Garage. Both Harada and Schaaff also worked at Apple several years ago, giving them experience at one of Sony's main rivals. Provided the three become board members at a shareholder meeting on June 20th, they could bring new thinking to a company frequently accused of clinging to business as usual.
Jon Rubinstein joins Qualcomm board of directors
When Jon Rubinstein left HP, it wasn't certain whether he would retire (again) or once more respond to the siren's call of technology. Clearly, he couldn't resist -- Qualcomm has confirmed that Rubinstein is joining its board of directors. It's not hard to understand why the firm would be interested, mind you. Between NeXT, Apple, Palm and HP, Rubinstein has extensive experience with Silicon Valley technology in general, and mobile in particular. While Qualcomm is already doing blockbuster business without his help, it no doubt wants to keep the money train going. Us? We're just happy to see a familiar name back in the limelight.
Razer enlists Rahul Sood of VoodooPC fame as advisor to its board of directors
Rahul Sood is still keeping busy at Microsoft, but he's adding yet another role to his resume: advisor to Razer's board of directors. The VoodooPC founder says he views the gaming-focused firm as the spiritual successor to his PC outfit's previous work, and Razer CEO Min-Liang Tan effectively considers the feeling mutual. "In fact, it was his work at VoodooPC that inspired us to enter the systems business, and I believe his advice will be invaluable to us here at Razer," says Tan. In his new capacity, Sood will help guide the company with everything from product development to sales. We can only hope the collaboration leads to more Ferrari tie-ins and good advice when it comes to gaming hardware like the Razer Blade and Razer Edge.
Apple exec Eddy Cue joins Ferrari board of directors, raises hopes for truly high-tech exotic cars
Ferrari loves to extol the advances found in its drivetrains, but the unspoken rule is that its interior technology leaves something to be desired; unless you're thinking of a 458's manettino, even a less expensive car like the Tesla Model S is virtually in another league. The automaker may be narrowing that gap by putting Apple online lead Eddy Cue on the Ferrari board of directors. Without giving too much away, Ferrari Chairman Luca di Montezemolo points to Cue's experience with the "dynamic, innovative world of the internet" as the motivation -- as good a sign as any that the Maranello team wants to take connected cars seriously. Whenever the Apple Senior VP's experience comes into full effect, we may see one of the few supercar lineups whose cabins are as advanced as the engines. Just don't look for any tight integration with Ferrari-badged Acer gear in the near future.
Micron appoints Mark Durcan as new CEO
In the wake of last week's fatal plane crash that took the life of its CEO, Micron Technology has appointed a successor, Mark Durcan. The former CTO has been with the company since 1984, and has -- per company bylaws -- been serving as interim chief since February 3rd. Robert Switz, the company's previous Board Director, will assume the duties of Board Chairman and Mark Adams, formerly the VP of Worldwide Sales, has been named as the company's President. In a press release announcing the appointments, the new CEO wrote that the company was "deeply saddened" to learn of the death of its top executive, and that the management team would work relentlessly to "continue to move the company forward."
Bob Iger picks up $55,000 in stock for joining Apple's Board
We mentioned earlier this week that Disney CEO Bob Iger was invited to join up to Apple's Board of Directors, and Fortune reports that as part of his deal, Iger got 142 restricted shares of AAPL, totalling a nice bonus of over $55,000 at current market value. Nice work, if you can get it! We joke -- Iger has been a key player at Disney for a while, overseeing both the recent purchase of Marvel Entertainment, as well as the acquisition of Pixar, which of course was headed up by none other than Steve Jobs. $55k is nothing for Iger, though -- last year, he picked up more than $29 million in compensation from Disney, according to SEC filings. And Iger has one other thing going for him that he and I share: He's a Bachelor of Science alumni from the Roy H. Park School of Communications at Ithaca College in upstate New York. Go Bombers!
Arthur D. Levinson new Apple chairman, Disney CEO Bob Iger joins board
Arthur D. Levinson has been named chairman of Apple's board of directors. Levinson has been a co-lead director of the board since 2005, and he is also chairman of Genentech. At the same time, Disney president and CEO Bob Iger has also joined Apple's board of directors; together, he and Levinson will both serve on the board's audit committee. "Bob and I have gotten to know one another very well over the past few years and on behalf of the entire board, we think he is going to make an extraordinary addition to our already very strong board," said Tim Cook, who called Disney's CEO "a great fit for Apple." Iger's appointment to Apple's board appears to further cement the ties between the two companies. As CEO of Pixar, Steve Jobs was Disney's largest shareholder. Show full PR text Apple Names Arthur D. Levinson Chairman of the Board Robert A. Iger, President & Chief Executive Officer of The Walt Disney Company, Joins Apple's Board CUPERTINO, Calif., Nov 15, 2011 (BUSINESS WIRE) -- Apple(R) today named Arthur D. Levinson, Ph. D. as the Company's non-executive Chairman of the Board. Levinson has been a co-lead director of Apple's board since 2005, has served on all three board committees--audit and finance, nominating and corporate governance, and compensation--and will continue to serve on the audit committee. Apple also announced that Robert A. Iger, President and Chief Executive Officer of The Walt Disney Company, will join Apple's board and will serve on the audit committee. "Art has made enormous contributions to Apple since he joined the board in 2000," said Tim Cook, Apple's CEO. "He has been our longest serving co-lead director, and his insight and leadership are incredibly valuable to Apple, our employees and our shareholders." "Bob and I have gotten to know one another very well over the past few years and on behalf of the entire board, we think he is going to make an extraordinary addition to our already very strong board," said Tim Cook. "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." "I am honored to be named chairman of Apple's board and welcome Bob to our team," said Art Levinson. "Apple is always focused on out-innovating itself through the delivery of truly innovative products that simplify and improve our lives, and that is something I am very proud to be a part of." "Apple has achieved unprecedented success by consistently creating high quality, truly innovative products, and I am extremely pleased to join the board of such a wonderful company," said Bob Iger. "Over the years, I have come to know and admire the management team, now ably led by Tim Cook, and I am confident they have the leadership and vision to ensure Apple's continued momentum and success." Levinson is chairman of Genentech, Inc. and a member of the Roche Board of Directors. He joined Genentech as a research scientist in 1980, and served as Genentech's Chief Executive Officer from 1995 to 2009. He is also a director of Amyris, NGM Biopharmaceuticals, Inc., and the Broad Institute of MIT and Harvard. Levinson currently serves on the Board of Scientific Consultants of the Memorial Sloan-Kettering Cancer Center and the Advisory Council for the Lewis-Sigler Institute for Integrative Genomics. He has authored or co-authored more than 80 scientific articles and has been a named inventor on 11 United States patents. In 2008, he was elected to the American Academy of Arts & Sciences. Levinson received his Bachelor of Science degree from the University of Washington and earned a doctorate in Biochemical Sciences from Princeton University. Iger is the steward of the world's largest media company and some of the most respected and beloved brands around the globe. He has built on Disney's rich history of unforgettable storytelling, with the acquisition of Pixar (2006) and Marvel (2009), two of the entertainment industry's greatest storytellers. Always one to embrace new technology, Iger has made Disney an industry leader at the forefront of offering its creative content across new and multiple platforms. He is a member of the board of directors for the National September 11 Memorial & Museum and Lincoln Center for the Performing Arts, Inc. He became a board member of the US-China Business Council in June 2011. In June 2010, President Barack Obama appointed him to the President's Export Council, which advises the president on how to promote US exports, jobs and growth. He is also a member of the Partnership for a New American Economy, a coalition of mayors and business leaders from across the United States that support comprehensive immigration reform. Iger is a graduate of Ithaca College. Apple designs Macs, the best personal computers in the world, along with OS X, iLife, iWork and professional software. Apple leads the digital music revolution with its iPods and iTunes online store. Apple has reinvented the mobile phone with its revolutionary iPhone and App Store, and has recently introduced iPad 2 which is defining the future of mobile media and computing devices.
Apple announces changes to its board: Arthur D. Levinson named Chairman, Robert Iger joins
Apple has just announced some changes to its board of directors, including the appointment of a new non-executive chairman: Arthur D. Levinson. Currently Chairman of Genentech Inc., Levinson has been a co-director of Apple's board since 2005, having first joined the board in 2000. He'll be welcoming new board member Robert A. Iger, who you may know as the President and CEO of The Walt Disney Company. In a statement, Apple CEO Tim Cook said that Levinson "has made enormous contributions to Apple since he joined the board in 2000," and that his "insight and leadership are incredibly valuable to Apple, our employees and our shareholders." On Iger, Cook said: "Bob and I have gotten to know one another very well over the past few years and on behalf of the entire board, we think he is going to make an extraordinary addition to our already very strong board," further noting that "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." The official press release is after the break.
Al Gore praises Apple Board at All Things D conference
Al Gore, Former Vice President and member of the Apple board of Directors, sat down with Walt Mossberg at the recent AsiaD conference held in Hong Kong last week. Besides environmental issues and politics, Gore also talked about Steve Jobs, Apple and its board of Directors. Gore has served on Apple's board since 2003. Gore had nothing but good things to say about the members of Apple's Board of Directors and praised them for making difficult decisions throughout Steve Jobs's protracted illness. I have the deepest respect for my fellow board members, we're all very good friends... I think that people who specialize in kibitzing about these things - I respect them, it's good for them to think about this kind of stuff, but I wouldn't change a thing about the way the Apple board has operated. Apple's board has been criticized in the past for withholding information about Steve Jobs's illness and for not publicizing its CEO accession plan.
Shareholder calls for RIM to sell itself or its patents, in critical open letter
Things just keep getting bleaker for RIM. With its revenues stagnating and smartphone market share dwindling, the BlackBerry maker is now facing new financial pressure from Jaguar Financial Group -- a Canadian merchant bank and RIM shareholder that's calling upon the company to do one of two rather unpleasant things: sell itself, or sell its patent portfolio. In an open letter to RIM's board of directors, Jaguar CEO Vic Alboni criticized the manufacturer for failing to "inspire consumer enthusiasm" for its products, and for bringing its devices to market too late. And, as share prices continue to drop, Alboni thinks it's time to make a change: The status quo is not acceptable, the company cannot sit still. It is time for transformational change. The directors need to seize the reins to maximize shareholder value before more market value is lost. Jaguar didn't specify the size of its RIM stake, but claimed to be calling for upheaval on behalf of "other supportive shareholders" who, in total, hold less than five percent of the company. The Ontario-based firm is hoping that a new line of QNX-based smartphones will curtail its slump, but Alboni doesn't sound so optimistic. "You cannot put all your eggs in one basket," he told Bloomberg. "The board should be saying, 'What if these products don't pan out?' You don't want RIM to turn into another Nortel." A RIM spokeswoman, meanwhile, declined to comment on the letter. Hit up the source link below to read it for yourself.
Eric Schmidt "couldn't stay on" Apple's board (Updated)
Update: The original story had a misquote and was subsequently updated to correct this. We've updated our story as well. Google Chairman Eric Schmidt spoke with Salesforce Chairman CEO Mark Benioff in a Q&A session earlier this week. The former CEO had kind words to say about Steve Jobs and called Jobs' reign over Apple as "the best performance of a CEO in 50 years." Though he had glowing words about Jobs, Schmidt was less enthusiastic about his time on Apple's Board of Directors. Speaking about his time on the board, Schmidt says, "I was on the board until I couldn't stay on the board anymore." The quote came from a Bloomberg report which did not provide the context or additional details about this somewhat scathing comment. But looking back at Schmidt's time on the board, this attitude is not that surprising. When Schmidt was on the board, Apple had launched the iPhone and Schmidt, as the head of Google, had just launched Android, a competing platform to the iPhone. It must have been an awkward and tense time to be on the board of a company that is now your chief rival. [Via AppleInsider]
Steve Jobs expected to remain on Disney board
The name Steve Jobs is synonymous with Apple, the company the man co-founded with Steve Wozniak and the relatively unknown Ronald Wayne. Fewer people remember that Jobs also has ties with Disney and has been on the board of directors of the entertainment giant for the past five years. Bloomberg.com reported last night that Jobs is expected to stay on the Disney board for the foreseeable future. In 1986, during his exile from Apple, Jobs purchased Pixar Animation Studios from Lucasfilm and with his support as CEO, helped the studio begin making its string of highly successful animated feature films. Jobs sold Pixar to Disney in 2006 for $7.4 billion, which made him the largest single stockholder in Disney. His stake in the company is still huge -- Jobs owns a 7.4% stake in the Disney empire (about 138 million shares of stock). Bloomberg also noted that Jobs was the only Disney board member who was unable to attend 75 percent of board meetings due to health considerations. At his own request, Jobs does not receive compensation in his role as a Disney board member.
Steve Jobs resigns as CEO of Apple
A major development out of Cupertino: Apple CEO Steve Jobs has stepped down, the board naming Tim Cook as his replacement. The company said "Steve's extraordinary vision and leadership saved Apple and guided it to its position as the world's most innovative and valuable technology company." Steve himself published the following letter: I have always said if there ever came a day when I could no longer meet my duties and expectations as Apple's CEO, I would be the first to let you know. Unfortunately, that day has come. I hereby resign as CEO of Apple. I would like to serve, if the Board sees fit, as Chairman of the Board, director and Apple employee. As far as my successor goes, I strongly recommend that we execute our succession plan and name Tim Cook as CEO of Apple. I believe Apple's brightest and most innovative days are ahead of it. And I look forward to watching and contributing to its success in a new role. I have made some of the best friends of my life at Apple, and I thank you all for the many years of being able to work alongside you. Steve Apple has confirmed that Jobs will stay on as Chairman. Full details in the PR after the break.
