Apple Names Former Boeing Executive to Board
October 01 2015 - 12:50PM
Dow Jones News
By Tess Stynes
Apple Inc. named former Boeing Co. finance chief James A. Bell
to its board of directors, bringing the size of the board back to
eight members.
The Cupertino, Calif.-based company has had seven members since
J. Crew Inc. Chief Executive Millard "Mickey" Drexler retired at
the end of his term in March. Mr. Drexler, a longtime confidant of
Apple's former CEO Steve Jobs, joined the company's board in 1999
and played a pivotal role in Apple's rollout of its own retail
stores.
When Mr. Bell's plans to retire from Boeing were announced in
late 2011, he was the highest-ranking African-American employee in
the plane-maker's history.
Mr. Bell, who had served as Boeing's finance chief since 2003,
stepped down after the Chicago-based company reached several key
milestones, including delivering its first 787 Dreamliner jet,
which had been delayed for several years by production and design
problems. Mr. Bell also had been part of a management team that
worked to repair the Boeing's reputation in the wake of a series of
scandals.
During his 38-year tenure at Boeing, Mr. Bell also oversaw
Boeing Capital Corp. and Boeing Shared Services, and was interim
chief executive of Boeing in 2005.
The announcement of Mr. Drexler's departure from Apple's board
in January came six months after Intuit Inc. Chairman Bill
Campbell, another stalwart of Apple's board and a longtime Jobs
ally, stepped down as a director. Apple replaced him with Sue
Wagner, a founding partner at asset-management firm BlackRock
Inc.
The turnover on Apple's board has been seen as a sign of Apple
Chief Executive Tim Cook placing his own stamp on the company,
several years after he took over for Mr. Jobs, the company's iconic
co-founder.
Write to Tess Stynes at tess.stynes@wsj.com
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(END) Dow Jones Newswires
October 01, 2015 12:35 ET (16:35 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
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