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2010-03-26 05:27:02
Dan Moren Dan Moren Thu Mar 25, 12:42 pm ET
The recent passing of Apple director Jerome York has left a hole in the company
s board of directors, but it s also revealed that the group is not quite the
unified front that it s often thought to be.
According to a report in The Wall Street Journal , York was unhappy with the
way that Apple CEO Steve Jobs handled his health problems last year. In a 2009
interview with the Journal comments from which weren t published until this
week York said Jobs should have publicly announced his health issues when he
backed out of appearing at Macworld Expo, less than a month prior to his taking
a leave of absence.
He also said that he came close to resigning when given full details about Jobs
s health.
Mr. York said the concealment disgusted him, adding that the only reason he
didn t quit at the time was because he wanted to avoid the uproar that would
have occurred once he disclosed his reason. Frankly, I wish I had resigned
then, he said.
With York gone, Apple s board has only five directors aside from Jobs: J. Crew
Chairman and CEO Mickey Drexler, Intuit chairman Bill Campbell (a former Apple
executive), Genentech Chairman Arthur Levinson, Avon Chairman and CEO Andrea
Jung (recently appointed co-lead director, along with Levinson), and former
vice president Al Gore. Google CEO Eric Schmidt was a member of the board until
he stepped down in August 2009, over concerns about increased competition
between the two companies.
Some critics have complained that Apple s board doesn t often oppose Jobs,
citing examples such as Jobs s health situation and the 2006 controversy over
options backdating, in which an internal probe at Apple found some
irregularities in stock options granted in the late 90s. Jobs was cleared of
any wrongdoing by both an independent investigation and the Securities and
Exchange Commission.
Apple may or may not choose to fill York s seat on Apple s board. The company s
by-laws require a minimum of five directors, and Apple didn t replace Schmidt
when he departed. However, the company will need a director to take York s
position on Apple s three-person audit committee, which he headed. The rules
also state that at least one member of that committee must have a background in
finance or accounting; York had been that person, and neither of the other two
members Levinson or Campbell would seem to fulfill the requirements.
If Apple does decide to appoint a new board member, the selection would be an
important one: would it be a safe choice unlikely to rock the boat, or a more
independent voice to counter Jobs s strong-willed influence?