Apple Appoints Levinson Chairman, Iger to Join Board

By Kathryn Glass Features FOXBusiness

Apple Inc. (AAPL) said on Tuesday after the market closed that it has named Arthur D. Levinson as the new chairman of the company, and has added a new board member to its ranks.

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Levinson, who will take over the position vacated by the death of Steve Jobs, has worked as the company’s co-lead director since 2005 and has served on all three of the company’s board committees: audit and finance, nominating and corporate governance and compensation, the company said in a release.

"Art has made enormous contributions to Apple since he joined the board in 2000," Chief Executive Tim Cook said in a statement. "He has been our longest serving co-lead director, and his insight and leadership are incredibly valuable."

The personal-computing giant also announced it has added Robert A. Iger, chief executive of Walt Disney Co. (DIS) to the board; Iger will also serve on the audit committee.

Shares of Apple rose $9.57 or 2.52% on Tuesday, finishing the day at $388.83 a share. The stock was up slightly in after-hours trading.

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