Google CEO Schmidt resigns from Apple board

More Apple/Google drama: Google CEO Eric Schmidt is resigning his seat on Apple's board of directors, a position he has held since August 2006. Not surprisingly, the growing competition between the two technology giants is cited as the catalyst behind Schmidt's exit.

"As Google enters more of Apple's core businesses, with Android and now Chrome OS, Eric's effectiveness as an Apple Board member will be significantly diminished, since he will have to recuse himself from even larger portions of our meetings due to potential conflicts of interest," said Apple CEO Steve Jobs in a prepared statement. "Therefore, we have mutually decided that now is the right time for Eric to resign his position on Apple's Board."

For more on Schmidt's resignation:
- read this release

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