Recs

7

It's Time for a Boardroom Shakeup at Apple

Watch stocks you care about

The single, easiest way to keep track of all the stocks that matter...

Your own personalized stock watchlist!

It's a 100% FREE Motley Fool service...

Click Here Now

Let's have a moment of silence for the passing of a business giant.

Jerry York has left this world behind at the age of 71. He is perhaps best known for his involvement in the auto industry, where he worked for Ford (NYSE: F  ) , Chrysler, and General Motors, and came close to brokering a GM tie-up with Nissan (Nasdaq: NSANY  ) and Fiat before the auto giant dropped off a steep cliff with pointy rocks at the bottom.

You might also know him as a longtime board member at Apple (Nasdaq: AAPL  ) , where he stepped aboard along with Larry Ellison of Oracle (Nasdaq: ORCL  ) during the second coming of Steve Jobs way back in 1997 (not to be confused with the third coming of 2009). He served as chairman of the finance and audit committees until his death.

Losing someone who was the chair of two important committees as well as a strong leader with decades of multi-industry experience is a serious blow to any company. Apple's cult of Jobs still requires a few supporting actors, and York had been a big one for more than a decade.

But I wouldn't worry too much about Apple. It is an industry giant with a brand name that stretches across generations and industries (a few scandals notwithstanding) and should have no trouble attracting a replacement with the requisite skills. After losing Google (Nasdaq: GOOG  ) CEO Eric Schmidt to competitive concerns and now Jerry York to a more somber fate in less than a year, it's high time for Apple to restock the boardroom. But who will get the nods?

It makes sense to invite COO and former interim CEO Tim Cook to board meetings, but Apple likes to think big and probably won't go the obvious route. Co-founder and Dancing With the Stars foot-flapper Steve Wozniak would be a popular and quirky choice, but the other Steve wouldn't do much to replace York's financial expertise.

Perhaps Jobs could pull some strings at Walt Disney (NYSE: DIS  ) , where he holds a board seat himself, is the company's single largest shareholder, and once owned animation arm Pixar outright. Former Pixar and current Twitter CFO Ali Rowghani would make a lot of sense on Apple's board today. Longtime Disney CFO Tom Staggs is another sensible choice.

But when's the last time Apple did anything sensible? Gather around the comments water cooler below and let the speculation about York's and Schmidt's replacements begin.

The Steve Jobs Betrayal
You may already know that in the final year of his life, Jobs revealed a stunning betrayal — and told his biographer, "I will spend my last dying breath... and every penny of Apple's $40 billion in the bank to right this wrong." What was it that made Jobs so irate — and why could it make a few in-the-know investors some major profits over the coming months and years?

Enter your email address below to find out what made Jobs so enraged!

Fool contributor Anders Bylund owns shares in Nissan, Google, and Disney, but he holds no other position in any of the companies discussed here. Walt Disney is a Motley Fool Inside Value recommendation. Google is a Motley Fool Rule Breakers selection. Apple, Walt Disney, and Ford Motor are Motley Fool Stock Advisor picks. The Fool owns shares of Oracle. Try any of our Foolish newsletters today, free for 30 days. You can check out Anders' holdings and a concise bio if you like, and The Motley Fool is investors writing for investors.


Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

  • Report this Comment On March 20, 2010, at 1:37 AM, snafflekid wrote:

    I hear Jerry Yang is looking for a job. Heck, wouldn't even have to change the monogram on the towels in the executive bathroom.

Add your comment.

Compare Brokers

Fool Disclosure

DocumentId: 1136492, ~/Articles/ArticleHandler.aspx, 5/25/2012 10:09:28 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated 53 minutes ago Sponsored by:
DOW 12,454.83 -74.92 -0.60%
S&P 500 1,317.82 -2.86 -0.22%
NASD 2,837.53 -1.85 -0.07%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

5/25/2012 4:00 PM
AAPL $562.29 Down -3.03 -0.54%
Apple CAPS Rating: ***
NSANY $14.49 Down +0.00 +0.00%
Nissan Motor Co.,… CAPS Rating: **
ORCL $26.14 Up +0.02 +0.08%
Oracle Corp. CAPS Rating: ****
GOOG $591.53 Down -12.13 -2.01%
Google CAPS Rating: ****
DIS $44.50 Up +0.06 +0.14%
Walt Disney CAPS Rating: *****
F $10.60 Up +0.01 +0.09%
Ford CAPS Rating: ****

Advertisement