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News > Technology
Apple director resigns
July 25, 1997: 2:41 p.m. ET

NPR chief Lewis' departure leaves four vacancies on seven-member board
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NEW YORK (CNNfn) - Delano E. Lewis, president and chief executive officer of National Public Radio, has resigned as a member of Apple Computer Inc.'s board of directors.
     Lewis' departure leaves four openings on the seven-member board. Of the seven, six are outside directors. Cupertino, Calif.-based Apple said a search for Lewis' replacement will begin immediately.
     "I have appreciated the opportunity to serve Apple and I wish the company every success facing the challenges of the future," Lewis said. "I have every confidence that the board, executive management team and employees will meet those challenges with confidence and vigor," he said in a statement.
     The announcement comes less than a month after Gil Amelio left the company's top spot. Ellen Hancock, former executive vice president for technology, also announced her departure July 9.
     Lewis is leaving just as the California Public Employees' Retirement System, the nation's largest public pension fund, said it will meet with Apple officials to discuss its performance and stock price. CalPERS also has publicly expressed a lack of confidence in Apple's directors.
     CalPERS said it is concerned about the fact that some Apple directors also sit on other boards and may not have the time necessary to devote to turning the company around.
     The retirement system voted not to re-elect the company's board to another term at Apple's shareholder meeting earlier this year.
     A CalPERS spokesman said the retirement system isn't interested in installing its own slate of directors, but wants to ensure new directors are brought on who will concentrate on growing the company's market share and improving financial performance.Back to top
     --Cyrus Afzali

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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer.

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Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2014 and/or its affiliates.