When the Federal Trade Commission began investigating Apple (AAPL) and Google's (GOOG) overlapping boards, it was just a matter of time before they got to Arthur Levinson.
Levinson, the former chairman and CEO of Genentech (DNA), joined Apple's board in 2000 and Google's in 2004.
Since then, the two companies have become increasingly competitive, and last May the FTC began an inquiry into whether the presence of Levinson and Google CEO Eric Schmidt on both boards violated the interlocking directorates provision of the Clayton Antitrust Act.
Schmidt resigned from Apple's board in July. Google announced on Monday that Levinson was resigning from its board, effective immediately.
No reason was given, although Schmidt did issue a statement: More
Every morning, discover the companies, deals and trends in tech that are moving markets and making headlines. SUBSCRIBE
Receive Fortune's newsletter on all the deals that matter, from Wall Street to Sand Hill Road. SUBSCRIBE
Covering the digital giants of Silicon Valley and beyond, an in-depth look at enterprise companies, and the startups disrupting them. Written by Michal Lev-Ram and emailed twice weekly. SUBSCRIBE
Anne Fisher answers career-related questions and offers helpful advice for business professionals. SUBSCRIBE
| Company | Price | Change | % Change |
|---|---|---|---|
| Bank of America Corp... | 7.95 | -0.16 | -1.97% |
| Intel Corp | 26.73 | -0.43 | -1.58% |
| Microsoft Corp | 31.27 | -0.17 | -0.54% |
| Ford Motor Co | 12.28 | -0.25 | -2.00% |
| General Electric Co | 19.39 | 0.17 | 0.88% |
| Index | Last | Change | % Change |
|---|---|---|---|
| Dow | 12,938.67 | -27.02 | -0.21% |
| Nasdaq | 2,933.17 | -15.40 | -0.52% |
| S&P 500 | 1,357.66 | -4.55 | -0.33% |
| Treasuries | 2.00 | -0.04 | -1.96% |