Disney's Iger joins Apple's board as company names chairman to replace Jobs

Apple (Nasdaq: AAPL) has named Disney (NYSE: DIS) chief executive Bob Iger to its board of directors, a move that signals strong ties will remain between the two companies following the death last month of Apple chairman Steve Jobs, who had been a member of Disney's board.

"Bob and I have gotten to know one another very well over the past few years and on behalf of the entire board, we think he is going to make an extraordinary addition to our already very strong board," Tim Cook, Apple's CEO, said in a statement. "His strategic vision for Disney is based on three fundamentals: generating the best creative content possible, fostering innovation and utilizing the latest technology, and expanding into new markets around the world which makes him a great fit for Apple."

The company also named Arthur D. Levinson, who has served on the board since 2000, as its non-executive chairman of the board, replacing Jobs, who was chairman at the time of his death.

Levinson has been a co-lead director of Apple's board since 2005, has served on all three board committees--audit and finance, nominating and corporate governance, and compensation--and will continue to serve on the audit committee.

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