Apple has announced that Susan Wagner, a founding partner and director of BlackRock, has joined its Board of Directors. BlackRock owns 2.82% of Apple, and is a well-known investment management firm. Wagner replaces Bill Campbell, who has served on the Apple Board of Directors for 17 years.
From the press release:
“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.”
Wagner graduated with honors from Wellesley College with a BA in English and Economics, and earned an MBA in Finance from the University of Chicago. She has been recognized as one of Fortune Magazine’s 50 Most Powerful Women in Business and honored by the National Council for Research on Women. At BlackRock, she championed and continues to support the Women’s Initiative Network, designed to foster the full potential of women within the company.
A report earlier this month suggested that Apple CEO Tim Cook was looking for new members to put on the board. Several members of the existing board are growing older, and have served on the board for over 10 years.
Apple’s press release quoted Art Levinson, the company’s chairman as saying the board “conducted an exhaustive search” for someone who could strengthen the board’s “breadth of talent and background.” Wagner herself says she’s always admired Apple and is “honored to be joining [the] board.”