Apple (and Pixar) CEO Steve Jobs has resigned from Gap's board of directors, Gap announced yesterday.
He's leaving to focus on "other priorities", the companies say. Gap chairman Donald Fisher said: "On behalf of the board I'd like to thank Steve for his contributions." Former Coca-Cola executive Penny Hughes will take Jobs' seat on the board.
Jobs joined the Gap board in September 1999, four months after Gap CEO Millard Drexler was appointed to Apple's board. The moves prompted months of industry speculation that Apple was itself preparing for a foray into retail, which eventually proved true when Apple opened its chain of US retail outlets.
With Jobs, Drexler remains on Apple's board. Also on the board are Bill Campbell, chairman and former CEO of Intuit, Arthur D Levinson PhD, chairman and CEO of Genentech, and Jerry York, president and CEO of Micro Warehouse. Larry Ellinson, CEO of Oracle and close friend of Jobs resigned from Apple's board last month.
Apple's board currently consists of just five men. Apple will report its fourth quarter and end of year results October 16.