Apple reshuffled its board on Tuesday by adding Disney CEO Robert Iger as a director. Arthur Levinson will become the non-executive chairman of the board.
Iger's addition is notable since Disney and Apple have been tight partners in recent years. Via the acquisition of Pixar, former CEO Steve Jobs was the largest shareholder of Disney. Iger takes the board seat left vacant by Jobs' passing.
In a statement, Apple CEO Tim Cook said Iger will "make an extraordinary addition." Cook added:
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.
Levinson, chairman of Genentech, has been a board member since 2000. Levinson is Apple's longest serving lead director.
In the past, Apple has taken some heat for the composition of its board of directors and the power held by Jobs. The recent moves should make the board more palatable to corporate governance watchdogs.
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