CEO of Microsoft's Arch Rival Joins Apple's Board of Directors

Dr. Eric Schmidt, chief executive officer of Google, was elected to Apple's board of directors at their meeting yesterday. Eric also sits on Google's board of directors and Princeton University's board of trustees. Google has been identified by Microsoft executives as Microsoft's chief competitor.

"Eric is obviously doing a terrific job as CEO of Google, and we look forward to his contributions as a member of Apple's board of directors," said Steve Jobs, Apple's CEO. "Like Apple, Google is very focused on innovation and we think Eric's insights and experience will be very valuable in helping to guide Apple in the years ahead."

"Apple is one of the companies in the world that I most admire," said Eric Schmidt. "I'm really looking forward to working with Steve and Apple's board to help with all of the amazing things Apple is doing."

Eric Schmidt joined Google from Novell, where he was chairman and CEO. At Google, Eric shares responsibility for Google's day-to-day operations, and is focused on building the corporate infrastructure needed to maintain Google's rapid growth while ensuring that quality remains high and product development times are kept to a minimum. Eric's 20 years of experience as an Internet strategist, entrepreneur and technologist give him a well-seasoned perspective which perfectly complements Google's needs as a young and rapidly growing company with a unique corporate culture.

This move appears to be very good for Apple. [Bill Fox]