Over the recent conflicts rising between Google and Apple, Schmidt, Google CEO, Eric Schmidt, has finally resigned from the Apple Board.
Both companies had been stepping forward in similar markets like Mobile platforms, PC OS; which have bought them into a Competition rather than a Partnership. Ofcourse, it wass nothing to do with Apple’s rejection of Google Voice App.
Apple said in a statement that the company and Schmidt reached a mutual decision to split ties as Google enters new markets that directly compete with Apple’s iPhone and Mac operating systems.
“I have very much enjoyed my time on the Apple Board; it’s a fantastic company,” said Schmidt in a statement. “But as Apple explained today we’ve agreed it makes sense for me to step down now.”
Schmidt has been with Google since 2001 and on Apple’s board since August 2006. He had been an active member of the community and had played an important role in triggering apple’s meetings. He had contributed alot with his ideas that could help both Google and Apple to monetize.
And now when the interests collide, their visions have started to diverge, as each of them look into their product specific interests.
But what surprised us was the Market response. Normally, their collaboration is considered good for the industry. Even though this is a bad news for innovation, market showed +ve results:
Shares of Google rose 1.9%, while Apple’s stock gained 1.6%.
“Eric has been an excellent board member for Apple, investing his valuable time, talent, passion and wisdom to help make Apple successful,” said Apple CEO Steve Jobs in a statement. “Unfortunately, as Google enters more of Apple’s core businesses, with Android and now Chrome OS, Eric’s effectiveness as an Apple board member will be significantly diminished.”