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BlackRock's Sue Wagner Joins Apple's Board, Replacing Bill Campbell

Stocks in this article: AAPL BLK GOOG

NEW YORK (TheStreet) –– Apple (AAPL - Get Report) named Susan L. Wagner, a co-founder of the asset management firm BlackRock  (BLK - Get Report) as a company director, adding a second woman to its board along with six men.

Wagner co-founded BlackRock in 1988 and held several roles, including vice chairman. She has been named one of Fortune Magazine's 50 Most Powerful Women in Business and honored by the National Council for Research on Women, and currently serves on the boards of BlackRock, India's DSP BlackRock, Swiss Re and Wellesley College, her alma mater.

“Sue is a pioneer in the financial industry and we are excited to welcome her to Apple’s board of directors,” Apple CEO Tim Cook said in a press statement. “We believe her strong experience, especially in M&A and building a global business across both developed and emerging markets, will be extremely valuable as Apple continues to grow around the world.”

Wagner said that she looked forward to working with Cook, adding, “I have always admired Apple for its innovative products and dynamic leadership team, and I’m honored to be joining their board.”

Wagner replaces Bill Campbell, who is retiring from the board after serving on it for 17 years. Campbell, a former Columbia University football coached who became one of Silicon Valley's best-known fixers, is the third longest-serving board member in Apple history.

“When Bill joined Apple’s board, the company was on the brink of collapse,” Cook said. “He not only helped Apple survive, but he’s led us to a level of success that was simply unimaginable back in 1997.”

Google (GOOG) Chairman Eric Schmidt, in an interview with Fortune, once said of Campbell that "his contribution to Google - it is literally not possible to overstate. He essentially architected the organizational structure."

--Written by Laura Berman in New York

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