Apple — which lost a board member in Google CEO Eric Schmidt last year — will hold a shareholder meeting tomorrow with a new co-lead director: Avon CEO Andrea Jung, Bloomberg reports:
Jung, the newest director and only woman serving on the seven-member board, quietly took over as co-lead in December. She succeeds former Apple executive Bill Campbell, one of the company’s longest-serving board members and a mentor to CEO Steve Jobs. Jobs is expected to appear at the meeting.
The handoff to Jung follows complaints by corporate- governance experts that Jobs had too much sway over a group of hand-picked directors. That may have affected the limited disclosures about Jobs’s health last year, when he had a liver transplant, said Jeffrey Sonnenfeld, a dean at Yale University’s School of Management. Jung’s elevation to co-lead director gives a more independent voice to the board, he said.