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APPLE

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APPLE COMPUTER : Apple board to discuss Schmidt replacement: report

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08/13/2009 | 06:40pm EDT

SAN FRANCISCO (Reuters) - Apple Inc's board plans to meet next Tuesday and discuss potential replacements for Google Inc Chief Executive Eric Schmidt, who stepped down from the board earlier this month, the Wall Street Journal reported on Thursday, citing a person familiar with the matter.

Apple did not respond to a request for comment.

Schmidt's departure had been expected by many analysts as Apple and Google began to increasingly compete against each other in areas such as smartphones and computer operating systems.

According to corporate governance guidelines posted on Apple's Web site, the company's directors meet at least four times a year.

Apple's board currently has seven members, of which only one, Chief Executive Steve Jobs, is an officer of the company.

Some analysts believe the company may move to name Chief Operating Officer Tim Cook to the board. Cook oversaw day-to-day operations for Apple while Jobs was on medical leave.

The other Apple board members are J. Crew CEO Millard Drexler, Intuit Chairman Bill Campbell, Harwinton Capital CEO Jerry York, Avon Products CEO Andrea Jung, former Genentech CEO Arthur Levinson and Former Vice President Al Gore.

(Reporting by Gabriel Madway)

Stocks mentioned in the article
ChangeLast1st jan.
APPLE -0.56% 203.35 Delayed Quote.28.91%
ONE STOP SYSTEMS INC -5.38% 1.76 Delayed Quote.-9.28%
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Financials (USD)
Sales 2019 257 B
EBIT 2019 62 396 M
Net income 2019 53 341 M
Finance 2019 102 B
Yield 2019 1,46%
P/E ratio 2019 17,8x
P/E ratio 2020 16,1x
EV / Sales2019 3,24x
EV / Sales2020 3,16x
Capitalization 936 B
Chart APPLE
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Technical analysis trends APPLE
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TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 44
Average target price 210,72  $
Last Close Price 203,35  $
Spread / Highest target 22,9%
Spread / Average Target 3,62%
Spread / Lowest Target -26,2%
EPS Revisions
Managers
NameTitle
Timothy Donald Cook Chief Executive Officer & Director
Arthur D. Levinson Chairman
Jeffrey E. Williams Chief Operating Officer
Luca Maestri Chief Financial Officer & Senior Vice President
Kevin M. Lynch Vice President-Technology
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