Sue Wagner, a founder of asset management firm BlackRock, has been appointed to Apple’s board as a replacement for the tech giant’s longest serving board member, Bill Campbell, who is retiring.
Wagner’s appointment adds some heavyweight financial clout to the board with significant experience in mergers and acquisitions, hinting at the direction Apple might be heading.
Art Levinson, Apple’s chairman, said Wagner was chosen for her ability to add more breadth to the existing board.
Apple chief executive Tim Cook said of the hire: “Sue is a pioneer in the financial industry and we are excited to welcome her to Apple’s board of directors. 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 joins Cook, former chief of Genentech Levinson, J Crew chairman and chief executive Millard Drexler, Al Gore, the former vice president, Disney exec Robert Iger, former Avon CEO Andrea Jung and Ronald Sugar of defence company Northrop Grumman on the board.
Wagner has held various roles at BlackRock since 1988 when she helped found the firm and she will continue to serve on the company's board.
Campbell is retiring after more than 30 years of involvement with Apple, initially joining in 1983 as VP of marketing, and spent 17 years on the company's board.