Google CEO Eric Schmidt stepped down from Apple's Board of Directors earlier today, but the move is not enough to call off an ongoing FTC investigation. In reaction to the news, the FTC released a statement by Bureau of Competition Director Richard Feinstein:
We have been investigating the Google/Apple interlocking directorates issue for some time and commend them for recognizing that sharing directors raises competitive issues, as Google and Apple increasingly compete with each other. We will continue to investigate remaining interlocking directorates between the companies.
The FTC originally launched the investigation back in May. The investigation revolves around Section 8 of the Clayton Antitrust Act of 1914, where problems arise if two companies are involved in more than 2% of each other's sales.
Meet Your Favorite Search Engine Watch Contributors
Many of SEW's leading expert contributors will be at ClickZ Live, the new online and digital marketing event kicking off in New York (March 31-April 3). Hear from the likes of: Thom Craver, Josh Braaten, Lisa Barone, Simon Heseltine, Josh McCoy, Lisa Raehsler, Greg Jarboe, Dan Cristo, Joseph Kerschbaum, John Gagnon, Eric Enge and more!