Levinson's Departure from Google Board May Keep FTC at Bay

Includes: AAPL, GOOG
by: Andy Beal

Remember Arthur Levinson?

Sure you do.

Levinson was the sole remaining board member causing a boatload of headaches for both Google (NASDAQ:GOOG) and Apple (NASDAQ:AAPL), by serving on the board of directors for both companies. Ring any bells? Well, he finally manned-up and vacated his role on Google’s board.

Google CEO and Chairman Eric Schmidt described Levinson in a released statement, "Art has been a key part of Google’s success these past five years, offering unvarnished advice and vital counsel on every big issue and opportunity Google has faced," Schmidt said. "Though he leaves as a member of our Board, Art will always have a special place at Google."

Levinson’s departure should be enough to prevent the colonoscopy the FTC was planning to give Google. It was hardly a tough decision for Levinson. While he loses $190,000 in compensation from Google, he’ll continue to receive the whopping $711,000 he enjoys as a perk for being an Apple board member.

That’s a whole lot of iTunes gift cards!