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BlackRock's Susan Wagner Joins Apple's Board of Directors, Replacing Bill Campbell

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Apr 12, 2001
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Apple today issued a press release announcing that Susan Wagner, founding partner and director of BlackRock has joined its board of directors. BlackRock, which owns 2.82 percent of Apple, is a well-known investment management corporation, co-founded by Wagner in 1988.

Wagner will replace Bill Campbell, who has served on Apple's Board of Directors for 17 years.
"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."
Wagner has been recognized as one of Fortune Magazine's 50 Most Powerful Women in Business and has also been honored by the National Council for Research on Women. She supports the Women's Initiative Network at BlackRock, which is designed to "foster the full potential of women" within the company.

Earlier this month, a report from The Wall Street Journal suggested Apple CEO Tim Cook was looking to add new members to Apple's Board of Directors, as several members of the existing board are older than 63 and have served for more than a decade.

Apple has faced criticism over its lack of female leadership, which Cook has been aiming to remedy. Wagner's appointment to the board follows the high-profile hire of Angela Ahrendts, who joined Apple as head of retail earlier this year. Wagner is the second female on Apple's board, joining Andrea Jung, who has served since 2008.

Art Levinson, Apple's chairman, said in the company's press release that the board "conducted an exhaustive search" for someone who could strengthen the board's "breadth of talent and background." Wagner herself says she's always admired Apple and is "honored to be joining [the] board."

(Image courtesy of TIME)


Article Link: BlackRock's Susan Wagner Joins Apple's Board of Directors, Replacing Bill Campbell
 

HiRez

macrumors 603
Jan 6, 2004
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I'm sure she won't be looking out for the best interests of her billions of investments, but for the good of the company. Isn't that a conflict of interest? By the nature of being on the board, she will have inside information. But I'm sure none of that will reach any of her partners, right?
 
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IJ Reilly

macrumors P6
Jul 16, 2002
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I'm sure she won't be looking out for the best interests of her billions of investments, but for the good of the company. Isn't that a conflict of interest? By the nature of being on the board, she will have inside information. But I'm sure none of that will reach any of her partners, right?

Quite the opposite, really. Don't forget, the stockholders elect the Board of Directors to look after their interests, and Blackrock is a large stockholder.

As for Bill Campbell, don't let the door hit you on the butt on the way out.

On the other hand, please do.
 
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Rogifan

macrumors Core
Nov 14, 2011
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Tim specifically called out M&A. Hmm....Apple's got something it's sleeve I think.

Now they just need to replace Al Gore with someone big in the tech industry. Like Elon Musk, perhaps?
 
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IJ Reilly

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Jul 16, 2002
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Tim specifically called out M&A. Hmm....Apple's got something it's sleeve I think.

Now they just need to replace Al Gore with someone big in the tech industry. Like Elon Musk, perhaps?

I'm not a fan of Elon Musk being on Apple's board. Granted he brings his own rock star persona but then so would Steve Jobs, and I don't think anyone would much have wanted Steve on their board. These are people who are too used to running things their way. The Board of Directors is more about oversight.

BTW, contrary to the article Wagner will not actually "join" Ahrendts. The former will sit on the board, and the latter is an executive. These are very different roles.

----------

Smart, rich and hot. I like that combination in a woman. I'm sure she will an asset to Apple.

Go ahead, be the first to creep us out. Somebody had to do it.
 
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3282868

macrumors 603
Jan 8, 2009
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She reminds me a bit of Natalie Merchant during her 10,000 Maniacs years
 

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firewood

macrumors 604
Jul 29, 2003
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She's from an investment company but how well does she know tech?

That's the point. Apple well over $150B in cash and reserves, which is a good portion of their market cap. They need someone with big-time investment experience to watch over that massive portion of Apple's total value. They have other people to watch over tech and operations.
 
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IJ Reilly

macrumors P6
Jul 16, 2002
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That's the point. Apple well over $150B in cash and reserves, which is a good portion of their market cap. They need someone with big-time investment experience to watch over that massive portion of Apple's total value. They have other people to watch over tech and operations.

It isn't really the board's job to make investment decisions, but it could not hurt to have someone on the board with a very good grasp of how to read financial reporting.
 
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unplugme71

macrumors 68030
May 20, 2011
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Is it me or has Apple been hiring women a lot lately in executive positions?

Wonder if Tim likes eye candy in the office :)
 
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2IS

macrumors 68030
Jan 9, 2011
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It would be closer to high school than middle school, so it depends on how you define okay.

I'd rather act like I'm in HS than act like a prude.

"oh noooes, he said "hot" that's so creepy" Jesus... :rolleyes:
 
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FrizzleFryBen

macrumors 6502
Dec 14, 2009
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Is it possible that a woman can be mentioned without people taking her looks into consideration and commenting about it? Hot or not, average, whatever, it matters none.
 
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iTiki

macrumors 6502
Feb 9, 2007
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Maui, Hawaii
Is it possible that a woman can be mentioned without people taking her looks into consideration and commenting about it? Hot or not, average, whatever, it matters none.

Like it or not, in the real world, looks do matter. Maybe it shouldn't be that way, but in fact, it does matter.
 
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IJ Reilly

macrumors P6
Jul 16, 2002
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Is it possible that a woman can be mentioned without people taking her looks into consideration and commenting about it? Hot or not, average, whatever, it matters none.

Apparently not, and it seems to be wrong to even to point out a lack of maturity at work.
 
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