Apple Taps Long-time Boeing CFO For Board Role

Apple Inc. added former Boeing Chief Financial Officer James Bell to its board of directors on Thursday. Bell, who was a 38-year veteran of Boeing until he retired in 2012, served as the company's head of finance for nearly nine years. In 2005, he briefly served as interim CEO in addition to his role as CFO. Earlier in his career, he oversaw Boeing Capital Corp. and Boeing Shared Services. In addition to Apple, Bell also serves as a member of the boards of JP Morgan Chase , Dow Chemical , CDW and a Trustee of Chicago's Rush University Medical Center. Shares of Apple fell 2.3% to $107.71 in recent trade, following a broader market decline that had the Dow Jones Industrial Average down more than 100 points in late-morning trade. Its shares are down 15% over the last three months, versus an 8.7% decline for the broader Dow 30. "I'm confident that he will make many important contributions to Apple," Apple Chairman Art Levinson said in a statement.