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Apple Brings ex-Boeing CFO Bell to Board

Apple Inc . AAPL has named James Bell, the former CFO of The Boeing Company BA to its board of directors. Bell will succeed Millard. S. Drexler, J. Crew Group CEO who stepped down from the board in March this year.

Bell has had an extraordinary career at Boeing spanning close to four decades. He was the company's CFO and even served as the interim CEO in 2005. He retired from Boeing in 2012. He is currently a board member of JPMorgan Chase JPM , The Dow Chemical Co. DOW and CDW Corporation and also a trustee of Chicago's Rush University Medical Center.

"James brings a wealth of global, financial and industrial experience from his successful career at Boeing as corporate president and CFO," Apple CEO Timothy D. Cook said in a statement. "I am thrilled to welcome him to Apple's board of directors and I look forward to working with him."

Analysts observe that the appointment of Bell, a respected African American executive, comes at a time when American companies are under fire for being less diverse at the higher corporate rungs. Activists like Jesse Jackson have long fought for increasing involvement of women and African American populations at higher management levels.

Apple, one of most successful companies in the world, under CEO Cook has become more open to the idea of diversity. Cook, who himself came out in the open about his homosexuality had remarked a few months back "Diversity is critical to innovation and it is essential to Apple's future. We aspire to do more than just make our company as diverse as the talent available to hire. We must address the broad underlying challenges, offer new opportunities, and create a future generation of employees as diverse as the world around us. We also aspire to make a difference beyond Apple."

Apple's board at present has seven members, which includes two women, Andrea Jung and Susan L Wagner. Other members include Chairman of the board, Arthur D Levison, Tim Cook, Albert Gore Jr, Robert .A. Iger and Ronald. D. Sugar.

At present, Apple carries a Zacks Rank #3 (Hold).

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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