Posted by: Arik Hesseldahl on August 04, 2009
After yesterday’s resignation of Google CEO Eric Schmidt from Apple’s board of directors, I’ve started thinking a bit about how that body might change in the coming years.
As I suggested in my story on the matter today, the most obvious choice for Apple’s next director is COO Tim Cook. Frankly I’d be surprised if he weren’t named as a director before the end of the calendar year, and you’d have to go pretty far to argue that it’s not a good idea.
But what of the rest of Apple’s board? I read an interesting post yesterday by Neal Lipschutz on Dow Jones’ Random Notes blog arguing that Apple’s board has a fundamental problem: It has too many current CEOs.
“The fact is,” he writes, “if boards are to move beyond their too-often ceremonial role they need people with specific expertise who can spend significant hours learning the business and industry and with the guts to challenge top management when needed.” Being a CEO of a public company, is a full-time job and then some. Schmidt is a CEO, as are two other Apple directors, Andrea Jung, CEO of Avon and Millard Drexler, CEO of J. Crew. Being a CEO, Lipschutz argues, should be that person’s sole professional commitment. Serving on a board of a second publicly held company cheats the shareholders of both companies out of some of that person’s time and energy.
Rather than debate his point — and I grant it is debatable — let’s just take it at face value for a moment. Let’s say for the sake of discussion that Jung and Drexler were to agree with Lipschutz and were to resign from Apple’s board. Who then would you suggest to take their place?
I’d like to know what you think. Apple’s board has seven people on it with one opening. Apple’s by-laws allow for a total of nine directors at any one time. In the comments below, suggest up to four names of people you think might add some needed expertise to Apple’s board, and why think they’d be good Apple directors. The catch is that they can’t be CEOs of any other public company. I look forward to your suggestions.
Just a suggestion as to one current board member who should be dumped: Bill Campbell of Intuit.
Its development and support of Quicken for Mac has been nothing short of pathetic, with the feature set lagging behind its Windows version for years. And even with its delayed release, Quicken Financial Life for Mac looks to be no better. I can't understand why Apple would want someone on its board who is part of a company that puts only a token effort into its software development for Macs.
Just a suggestion as to one current board member who should be dumped: Bill Campbell of Intuit. Intuit's development and support of Quicken for Mac has been nothing short of pathetic, with the feature set lagging behind its Windows version for years. And even with its delayed release, Quicken Financial Life for Mac looks to be no better. I can't understand why Apple would want someone on its board who is part of a company that puts only a token effort into its software development for Macs.
If not me how about Jack Dorsey or Biz Stone from Twitter?
Given that Apple is considering other ways of getting into financial space (potentially challenging PayPal) I would suggest bringing someone in with a financial background--perhaps CEO/CFO from one of large banks, GE Finance or the like. They have good representation from consumer based industries but if they truly are going to make the Iphone, Ipod into a financial instrument they need to pull some additional strength from that market space for additional insight.
Me
Apple's board could reflect more innovation and ties to new product development and supply chains to create more shareholder value with this crew:
Morris Chang, creator of TSMC and fabless semiconductor business model (imagine the concept of the iFab!)
Peter Lynch from Fidelity - cash flow and investment specialist to innovate and create overall shareholder value.
Bill Ford, chairman at Ford Motor Company. Environmental credibility as well as avenue into synergistic products for automobiles (Ford gets continued source of innovation in exchange).
Andy Grove, former Intel CEO.
It should be someone like myself, visionary like steve himself...
I'm with me, in a sense. I think a low-income non-CEO consumer of Macs (seven years) might add a sense of compassion to the needs of the non-BMW consumers. Maybe then Apple would be more open to making non-profits feel more welcome, and make a few lower cost options, such as a mini-tower.
How about Michael Dell or Jeff Bezos? :)
Bill Gates
Mark Andreeson
Mike Judge
Dick Cheney
Michael Dell? Gawd, how humiliatingly hilarious would that be for Michael? What has it been, just 12 yrs since Dell recommended that Apple should be shut down for lack of a viable future? Great stuff.
Michael Dell? Gawd, how humiliatingly hilarious would that be for Michael? What has it been, just 12 yrs since Dell recommended that Apple should be shut down for lack of a viable future? Great stuff.
Michael Dell? Gawd, how humiliatingly hilarious would that be for Michael? What has been, just 12 yrs since Dell recommended that Apple should be shut down for lack of a viable future? Great stuff.
Not specifically sure, but it should definitely be someone with significant international experience. Europe, Asia, Latin America are huge potential growth areas for Apple, so the board should include people who have intimate knowledge of these markets. Granted, Andrea Jung's Avon has a strong international business, but the board could really use someone from outside the U.S.
A blog on the daily doings of Apple and the many companies in its orbit, with insight and analysis by two longtime Apple-watchers BusinessWeek Senior Writer Peter Burrows and BusinessWeek.com Senior Technology Writer Arik Hesseldahl.
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