Apple announces executive changes

Apple has appointed Arthur D. Levinson, as the company's non-executive chairman of the board.

He has been a part of the company as a co-lead director of the company's board since2005, and has served on all three board committees -audit and finance; nominating and corporate governance and compensation. He will continue to serve on the audit committee.

''Arthur has made enormous contributions to Apple since he joined the board in 2000 and has been our longest serving co-lead director. His insight and leadership are incredibly valuable to Apple, our employees and our shareholders,''said Tim Cook, CEO, Apple.

He currently serves on the Board of Scientific Consultants of the Memorial Sloan-Kettering Cancer Center and the Advisory Council for the Lewis-Sigler Institute for Integrative Genomics.

Apple has also announced that Robert A. Iger, president and CEO of the Walt Disney company, will join its board and will serve on the audit committee. Robert is a member of the board of directors for the National September 11 Memorial & Museum and Lincoln Center for the Performing Arts. He even served as a board member of the US-China Business Council in June 2011.