Apple today announced that Susan L. Wagner, founding partner and director of BlackRock, has been elected to Apple’s board of directors. Bill Campbell, the board’s longest-serving member, is retiring after 17 years of service.
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, in a statement. “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.”
“I have always admired Apple for its innovative products and dynamic leadership team, and I’m honored to be joining their board,” said Wagner in a statement. “I have tremendous respect for Tim, Art and the other board members, and I look forward to working with them.”
Wagner graduated with honors from Wellesley College with a BA in English and Economics, and earned an MBA in Finance from the University of Chicago. She has been recognized as one of Fortune Magazine’s 50 Most Powerful Women in Business and honored by the National Council for Research on Women. At BlackRock, she championed and continues to support the Women’s Initiative Network, designed to foster the full potential of women within the company.
“Bill’s contributions to Apple are immeasurable and we owe him a huge debt of gratitude. On behalf of the board and the entire company, I want to thank him for being a leader, a mentor and a friend,” said Cook. “When Bill joined Apple’s board, the company was on the brink of collapse. He not only helped Apple survive, but he’s led us to a level of success that was simply unimaginable back in 1997.”
“Over the past 17 years, it’s been exciting to watch history unfold as Apple emerged as the premier technology company in the world. Working with Steve and Tim has been a joy,” said Campbell. “The company today is in the best shape that I have seen it, and Tim’s leadership of his strong team will allow Apple to continue to be great going forward.”
Source: Apple Inc.
17 years and Quicken for the Mac stills SUCKS!
Good riddance, Bill. You did nothing to support Apple at Intuit. You are an example of the “it’s better to be lucky than good” adage. I’m glad you enjoyed the ride, but time to get off now.
It always seemed to me that corporate boards were run like a good ole boy club where people were elected to each others BoDs to get stock grants and $50,000 to $80,000 for a week or so of “work.” They mostly seem like figureheads rubber stamping the desires of the CEO and corporate management while collecting a fat paycheck at the expense of the stockholders. There are too many of these people playing around with other people’s money.
asset management is good with Apple having 150+ b in the bank.
even a few percent more in earnings from that pile is a lot of moolah
not to mention she might help to defend the pile from hungry tax crazed politicians
But can she sit on a rubber ball in a red dress?
She might manage that, but I wouldn’t count on the seven inch heels — too brutal on the calves and achilles tendons.
A plain fact…Quicken and QuickBooks for Mac stunk then and stunk now…he totally, absolutely missed the boat helping Apple move into small business and small enterprise. I still can’t figure why Steve Jobs left him on the board.
Now replace Al Gore and Apple will have a great future and great vision…’ol Al will probably make a phone call and give my email address to the IRS.