As expected, Google CEO Eric Schmidt resigned from Apple's Board of Directors due to conflicts of interest. Schmidt had been on Apple's board since August 2006 but has to leave due to Android and the development of the Chrome OS, which are both products that compete with Apple's lineup.
“Eric has been an excellent Board member for Apple, investing his valuable time, talent, passion and wisdom to help make Apple successful,” said Steve Jobs, Apple’s CEO. “Unfortunately, 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. Therefore, we have mutually decided that now is the right time for Eric to resign his position on Apple’s Board.”