Thursday, March 25, 2010

On Apple's Board, Fewer Independent Voices -

While Apple could tap Mr. Campbell or Mr. Levinson to lead the audit committee or turn to one of its three other independent directors—former U.S. Vice President Al Gore, Avon Products Inc. CEO Andrea Jung or J. Crew Group Inc. CEO Millard "Mickey" Drexler—to fill the audit-committee vacancy, such moves appear unlikely, corporate-board experts said.

Apple's board, with just six members including Mr. Jobs, is already among the smallest at a Fortune 500 company, based on data from the research firm Corporate Library. As a result, its directors are likely to already be stretched thin, board experts said. Apple's investor Web site shows that, except for Mr. Jobs, who isn't on any board committees, directors have multiple responsibilities. And many of Apple's current directors don't have the strong financial expertise that's preferred for the audit chair position, governance specialists said.

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