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Susan Wagner to replace Bill Campbell on Apple board of directors

post #1 of 36
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Apple on Thursday announced Bill Campbell, the longest-serving member of the company's board, will retire after 17 years of service, to be replaced by BlackRock cofounder Susan L. Wagner.


Susan Wagner | Source: Reuters


Replacing Campbell is Susan Wagner, who cofounded global investment solutions firm BlackRock in 1998 and has held various executive positions including CEO, Head of Corporate Strategy and Vice Chairman. Since 2012, she has served as the company's director. Wagner is the second woman to be appointed to Apple's board of directors behind Andrea Jung, who was selected in 2008.

According to Apple, Wagner will juggle responsibilities at the Cupertino company while continuing to serve on the boards of BlackRock and DSP BlackRock, Swiss Re, Wellesley College and Hackely School.

"Sue is a pioneer in the financial industry and we are excited to welcome her to Apple's board of directors," said Apple CEO Tim Cook. "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."

Bill CampbellOutgoing Apple board member Bill Campbell. | Source: The Batch Foundation


Campbell first joined Apple in 1983 when he took on the VP of Marketing role under then-CEO John Sculley. He parlayed that title to head the company's Claris software initiative until Sculley ultimately drew the program down in the mid-1990s, prompting Campbell to leave.

When company cofounder Steve Jobs returned to Apple in 1997, Campbell was installed to the board and has served there since, making him the longest-serving member alongside Jobs and Mike Markkula.

"Over the past 17 years, it's been exciting to watch history unfold as Apple emerged as the premier technology company in the world. Working with Steve and Tim has been a joy," Campbell said. "The company today is in the best shape that I have seen it, and Tim's leadership of his strong team will allow Apple to continue to be great going forward."

Cook noted Campbell's presence on the board not only helped Apple survive, but allowed the company to reach a "level of success that was simply unimaginable back in 1997."
post #2 of 36

Not crazy about the BlackRock bit, but I suppose at this level these kinds of industry connections are unavoidable. I understand BlackRock is one of the largest holders of AAPL stock. I have a feeling this will cause more hesitancy/risk avoidance in the board.

 

http://finance.yahoo.com/q/mh?s=AAPL+Major+Holders

 

Wagner has one heck of a pedigree, though:  http://investing.businessweek.com/research/stocks/people/person.asp?personId=22072913&ticker=BLK

 

I'm surprised there is no one from Vanguard on the Apple board yet.


Edited by SpamSandwich - 7/17/14 at 1:59pm

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post #3 of 36
"...especially in M&A..."

After spending $3 billion on Beats, I find that quote very interesting.

I wonder if Cook has his eyes set on some more big mergers/acquisitions. Since I never in a million years would have guessed Beats, I can't even begin to imagine what else TC might be thinking of...
post #4 of 36

Do they really need 2 photos of Bill Campbell?

 

EDIT...they fixed it. 


Edited by macxpress - 7/17/14 at 3:25pm

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post #5 of 36
Quote:
Originally Posted by SpamSandwich View Post

Not crazy about the BlackRock bit, but I suppose at this level these kinds of industry connections are unavoidable. I understand BlackRock is one of the largest holders of AAPL stock. I have a feeling this will cause more hesitancy/risk avoidance in the board. Frankly, it has a bit of a slimy feel to it.

http://finance.yahoo.com/q/mh?s=AAPL+Major+Holders

I'm surprised there is no one from Vanguard on the board yet.
Cook specifically called out M&A. Sue Wagner has experience with that, especially internationally. I have a feeling Apple may be going on a buying spree the next few years.
post #6 of 36
Quote:
Originally Posted by Blastdoor View Post

"...especially in M&A..."

After spending $3 billion on Beats, I find that quote very interesting.

I wonder if Cook has his eyes set on some more big mergers/acquisitions. Since I never in a million years would have guessed Beats, I can't even begin to imagine what else TC might be thinking of...

 

As a founder with BlackRock she's been on board with some massive acquisitions.

 

Maybe an AT&T or IBM acquisition isn't as far-fetched as they might initially seem.

 

 

She looks a bit like the Emperor from Star Wars...and that Dutch angle on her picture isn't helping matters.


Edited by SpamSandwich - 7/17/14 at 2:17pm

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post #7 of 36
Quote:
Originally Posted by Rogifan View Post


Cook specifically called out M&A. Sue Wagner has experience with that, especially internationally. I have a feeling Apple may be going on a buying spree the next few years.

 

I removed the "slimy" part of my comment until I know more about this.

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post #8 of 36
Quote:
Originally Posted by Rogifan View Post


Cook specifically called out M&A. Sue Wagner has experience with that, especially internationally. I have a feeling Apple may be going on a buying spree the next few years.

 

You may be right.

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post #9 of 36
Quote:
Originally Posted by SpamSandwich View Post

I removed the "slimy" part of my comment until I know more about this.
I'm just happy Bill Campbell is gone. Now replace Al Gore with Elon Musk and I'll be really happy. 1smile.gif
post #10 of 36
Quote:
Originally Posted by Rogifan View Post


I'm just happy Bill Campbell is gone. Now replace Al Gore with Elon Musk and I'll be really happy. 1smile.gif

 

Al Gore (theoretically) helps out on the political front and heaven knows politicians have been getting a whole lot more "grabby" with Apple lately. Apple could probably use more assistance on the international political scene also.


Edited by SpamSandwich - 7/17/14 at 2:13pm

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post #11 of 36

"According to Apple, Wagner will juggle responsibilities at the Cupertino company while continuing..."

 

Somehow I doubt that's how Apple characterized this.

post #12 of 36
Quote:
Originally Posted by Rogifan View Post


I'm just happy Bill Campbell is gone. Now replace Al Gore with Elon Musk and I'll be really happy. 1smile.gif

Elon "I put all our patents in the public domain" Musk might not be culturally compatible with Apple.

post #13 of 36
Quote:
Originally Posted by SpamSandwich View Post

Al Gore (theoretically) helps out on the political front and heaven knows politicians have been getting a whole lot more "grabby" with Apple lately. Apple could probably use more assistance on the international political scene also.
he sure didn't help when it came to the justice department and e-books.
post #14 of 36
Quote:
Originally Posted by SpamSandwich View Post
 

 

As a founder with BlackRock she's been on board with some massive acquisitions.

 

Maybe an AT&T or IBM acquisition isn't as far-fetched as they might initially seem.

 

 

I would think an AT&T purchase would (1) be too US-centric and (2) do more harm than good since it would alienate every other carrier. 

 

But IBM.... if it could be done it could create an incredibly powerful company. If it happens, though, it won't be any time soon. They'll see how this new partnership goes, try out some partnerships with IBM in other areas, and if all that goes well, then maybe. 

post #15 of 36
Quote:
Originally Posted by Rogifan View Post


he sure didn't help when it came to the justice department and e-books.

 

Actually, the settlement may amount to as little as $0 according to Rene Ritchie at iMore.com because Apple is still free to pursue an appeal with no penalty to them during this phase. I think if Apple can get away from Judge Denise Cote and her reckless rulings they will have a better shot at a fair verdict.

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post #16 of 36
Quote:
Originally Posted by Rogifan View Post


I'm just happy Bill Campbell is gone. Now replace Al Gore with Elon Musk and I'll be really happy. 1smile.gif

I’d take a dead chicken over Al Gore (even typing the name burns).

Regardless she sound innocuous enough and the rad femies have their knickers in a knot over lack of lady reps at the top in the corporate world. Well, here’s one for ya.

When I find time to rewrite the laws of Physics, there'll Finally be some changes made round here!

I am not crazy! Three out of five court appointed psychiatrists said so.

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When I find time to rewrite the laws of Physics, there'll Finally be some changes made round here!

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post #17 of 36
Brilliant appointment.

Campbell was getting a bit long in the tooth. Gore and Jung should be replaced next.
post #18 of 36
Apple needs a physician on the board in order to move into the health arena. Someone who knows what is and isnt scientifically relevant to the human race and understands a little biology is needed.

It is a mistake to think that the merge between tech and biology isnt coming already.

Without science minded individuals at the board of directors, you get a bureaucratic minded group of people who will function like our government (badly).

A director of "simplicity" is also needed who can take EVERY process that the company uses such as HR or manufacturing or WHATEVER and looks to setup catalysts for more simplified operations. Reductions in paperwork, redundancies, etc. in effect, design the company just like you design an iphone... Simpler and designed to be more functional with each iteration.

Am I insane here? I would be happy to take care of both problems if anyone at apple wants my CV.
post #19 of 36
Quote:
Originally Posted by mhikl View Post

I’d take a dead chicken over Al Gore (even typing the name burns).
Regardless she sound innocuous enough and the rad femies have their knickers in a knot over lack of lady reps at the top in the corporate world. Well, here’s one for ya.
Dumb comment of the week
post #20 of 36
Originally Posted by paxman View Post
Dumb comment of the week

 

What’s incorrect about his second sentence?

Originally posted by Marvin

Even if [the 5.5” iPhone exists], it doesn’t deserve to.
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Originally posted by Marvin

Even if [the 5.5” iPhone exists], it doesn’t deserve to.
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post #21 of 36
Quote:
Originally Posted by Tallest Skil View Post

What’s incorrect about his second sentence?
As if innocuous is a goal? Let's not even begin to delve into the rest of the sentence.
post #22 of 36
Quote:
Originally Posted by paxman View Post



As if innocuous is a goal? Let’s not even begin to delve into the rest of the sentence.

 



I ignored that part; the rest is the point.

Originally posted by Marvin

Even if [the 5.5” iPhone exists], it doesn’t deserve to.
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Originally posted by Marvin

Even if [the 5.5” iPhone exists], it doesn’t deserve to.
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post #23 of 36
Quote:
Originally Posted by SpamSandwich View Post

As a founder with BlackRock she's been on board with some massive acquisitions.

Maybe an AT&T or IBM acquisition isn't as far-fetched as they might initially seem.




She looks a bit like the Emperor from Star Wars...and that Dutch angle on her picture isn't helping matters.

IBM would be quite the head turner!
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post #24 of 36
Quote:
Originally Posted by paxman View Post

Dumb comment of the week

Block list fodder.
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post #25 of 36
She's making some complex and smart hand gestures.
post #26 of 36
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Originally Posted by NostraThomas View Post

She's making some complex and smart hand gestures.

And if you look closely you can see the Force lightning coming off the fingertips.

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post #27 of 36
Quote:
Originally Posted by SpamSandwich View Post

Not crazy about the BlackRock bit, but I suppose at this level these kinds of industry connections are unavoidable. I understand BlackRock is one of the largest holders of AAPL stock. I have a feeling this will cause more hesitancy/risk avoidance in the board.

This sounds like bad news to me. This is someone who will act for investors regardless of the benefit to the company. This is exactly what the likes of Icahn and others will be after:

http://www.theverge.com/2013/12/28/5250052/apple-urges-shareholders-vote-against-icahns-buyback-proposal
http://www.cnet.com/news/icahn-disses-apple-board-for-not-boosting-stock-buyback/

They've done this before. When they don't get their way, they push for changes to the board. They'll recommend candidates in the finance industry, then they get the board to pass decisions in their favor until they get their profit and they bail.

http://www.blackrock.co.uk/individual/about-blackrock

"In a world that is shifting and changing faster than ever before, investors who want answers that unlock opportunity and uncover risk entrust their assets to BlackRock.

As of December 31, 2012, BlackRock's assets under management total US$3.792 trillion across equity, fixed income, cash management, alternative investment, real estate and advisory strategies."

They even have a registered trademark called iShares. This is like the iPref thing Einhorn came up with.

The experience in dealing with so many assets will probably be useful but her job has been to look after investors, not the health of companies. They always use these euphemisms like "unlock opportunity" or "unlock value", which basically means finding ways to milk companies for all their cash.

Hopefully, they'll limit the number of people from the finance industry so they don't get a majority vote in what Apple does with its cash.
post #28 of 36

Bill Campbell should have been shown the door years ago.  How he could continue to sit on the board considering his company's terrible Mac product line year after year is beyond me.

 

 

   Apple develops an improved programming language.  Google copied Java.  Everything you need to know, right there.

 

  MA497LL/A FB463LL/A MC572LL/A FC060LL/A MD481LL/A MD388LL/A ME344LL/A

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   Apple develops an improved programming language.  Google copied Java.  Everything you need to know, right there.

 

  MA497LL/A FB463LL/A MC572LL/A FC060LL/A MD481LL/A MD388LL/A ME344LL/A

Reply
post #29 of 36
Wagner is actually the 3rd woman to join the board - Sally Ride was the first woman in the 1980's

RE>>>>Wagner is the second woman to be appointed to Apple's board of directors behind Andrea Jung, who was selected in 2008.
post #30 of 36
Quote:
Originally Posted by macxpress View Post
 

Do they really need 2 photos of Bill Campbell?

 

EDIT...they fixed it. 

 

I am not gay, but at least they look better than any picture of that investment fund lady - she looks terrible and should get a new haircut.

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post #31 of 36
Now, I wonder where did I put my copy of Quicken for Mac anyway. Good riddance. Don't let the door hurt you on the way out Campbell.

Susan Wagner adds competence.
post #32 of 36
Quote:
Originally Posted by brlawyer View Post

Quote:
Originally Posted by macxpress View Post

 
Do they really need 2 photos of Bill Campbell?

EDIT...they fixed it. 

I am not gay, but at least they look better than any picture of that investment fund lady - she looks terrible and should get a new haircut.

That style of opening statement never ends well.

There are nicer looking pictures of Susan Wagner:



but she's an evil finance person like Icahn so it's a good idea to use the worst pictures of them whenever possible. Like this one where Icahn looks like he's just had a lobotomy and his nurse is telling him that his family has come to visit but he doesn't know what that means so he just smiles inanely:



People always have a set of nice pictures with good lighting, good posture but with some people they're harder to get than others. Angela Ahrendts for example likes to use the following picture a lot:



That's the one on Apple's PR page. If you look in Google for sizes, it's been used online at least 60 times. In everyday settings, she kinda has funny eyebrows and is a bit cock-eyed:



None of them are models so they'd probably rather avoid being judged on appearance but it's the first thing people typically judge anyone on as it's the first piece of information you get so it's unavoidable. This happens in talent auditions e.g:



The audience clearly assumed that this person was unattractive so can't possibly be a good singer. They really misjudged that one. Unattractive people sure have it rough in this world. Attractive people on the other hand can get away with a lot of things:



There was a prank video I can't find where a cute girl dropped something into a disgusting toilet and she asked guys to reach in to get it. Most guys obliged. Women are a bit less tolerant though:



There was another video that showed attractiveness might not be all that some girls are after:



Although recently there was a mugshot from a criminal that women started sharing around the social networks:

http://abc13.com/news/too-sexy-for-jail/124934/

Arrested for gang weapons charges and robbery but some women clearly willing to look the other way on that. Same goes for this attractive female mugshot:

http://www.kgw.com/news/national/cute-convict-meagan-simmons-instatcheckmate-248406291.html

It's just built-in that people make that instant judgement. Even people who say that looks don't matter, they'll judge a goth or skinhead by their appearance before their character.

edit: the other thing to keep in mind is the difference between makeup and no makeup photos. Guys don't wear makeup so it comes as a bit of a shock when you see the two side by side:



http://www.complex.com/pop-culture/2012/11/30-shocking-photos-of-hot-celebrities-without-makeup-or-photoshop/jennifer-love-hewitt

That stuff's like paint ( http://www.youtube.com/watch?v=wp5iy5JJqDA http://www.youtube.com/watch?v=ex33wtqnNz8 ).
post #33 of 36

I appreciate the page-long reply; but my point was just to say that she looked TERRIBLE in that photo. Whatever she did in BlackRock doesn't help either, as I am not too fond of investment bankers. But I am glad you found better pictures of her.

 

As for my opening statement of "not being gay", it was just to make sure that people don't start assuming I have a different sexual preference than women.

 

Clear now? Because it's as simple as that.

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post #34 of 36
After comparing her "good" and "bad" photos, I'm convinced her good photos have been heavily Photoshopped.

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post #35 of 36
Quote:
Originally Posted by SpamSandwich View Post

After comparing her "good" and "bad" photos, I'm convinced her good photos have been heavily Photoshopped.

There might be some photoshopping but makeup and lighting have a dramatic effect:

http://www.huffingtonpost.co.uk/2013/10/16/before-and-after-make-up-transformation-vadim-andreev_n_4106732.html





That's why women say they need to put their face on when they go to apply makeup, they're actually putting someone else's face on. In the following images, there's no photoshopping:



That's just a compilation of photos taken in poor lighting, hair not done with no makeup and not posed vs red carpet events with full makeup and good lighting. Here's one showing the process:



Here's a video showing a dramatic difference with an important change being the angles of the camera and face on top of the makeup:



0:12 and 0:16 (shown in the poster frame) are the same girl but her chin is up so no double chin and the camera points down.

It's the same deal with clothing in a way. Every day people get up and cover up 90% of their bodies with some sort of fashionable items. Nobody knows what's underneath. Same deal with personality too, people are always hiding things they don't want other people to see. The truth is, we don't want to know the truth all of the time:

http://www.youtube.com/watch?v=IsBB4i4k2PM#t=70
post #36 of 36

The acquisitions will not be IBM.  It has to do with international acquisitions.  Apple got all that cash in foreign accounts.  It is time they start spending that and that is what Tim is referring.

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