Google CEO Schmidt resigns from Apple board

Google Chief Executive Eric Schmidt has resigned from Apple’s board of directors, a position he has held since August 2006.

In a statement released Monday, Apple Chief Executive Steve Jobs said Schmidt’s effectiveness as a board member would be diminished as Google enters more of Apple’s “core business.” Jobs said the decision was mutual.

“Eric’s effectiveness as an Apple Board member will be significantly diminished, since he will have to recuse himself from even larger portions of our meetings due to potential conflicts of interest,” Jobs said in a statement.

In May, Schmidt said he was not considering resigning from Apple’s board of directors despite an inquiry by federal regulators into whether the companies’ close relationship violates antitrust laws.

In addition to mobile phone software, Apple and Google have a variety of competing products, including Internet browsers, e-mail, online calendars, software for managing digital photos, file storage and word processing.

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