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."
Earlier this month, a report from The Wall Street Journal suggested 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.
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."
BlackRock's Susan Wagner Joins Apple's Board of Directors, Replacing Bill Campbell