Google Loses Board Member Amid Probe
FTC Chairman Jon Leibowitz on Monday lauded former Genentech CEO Arthur Levinson -- a member of the corporate boards of both Google and Apple -- for stepping down from Google's board. The news follows an announcement earlier this summer that Google CEO Eric Schmidt, who had also been a director of both firms, was stepping down from the Apple board. Federal antitrust law prohibits, with certain exceptions, one person from serving as a director or officer of two competing corporations. Levinson's resignation takes effect immediately. He had been on the Google board since April 2004.
"Google, Apple, and Mr. Levinson should be commended for recognizing that overlapping board members between competing companies raise serious antitrust issues and for their willingness to resolve our concerns without the need for litigation," Leibowitz said in a statement. "Beyond this matter, we will continue to monitor companies that share board members and take enforcement actions where appropriate."
In a press release, Schmidt said Levinson has contributed to Google's success by "offering unvarnished advice and vital counsel on every big issue and opportunity." "Though he leaves as a member of our board, Art will always have a special place at Google," Schmidt said. Levinson, who left Genentech's day-to-day operations upon the biotech firm's $47 billion merger with Swiss drug maker Roche, called his time with Google "a remarkable experience" and said the company has "a terrific future."
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