Gap Inc. today announced that Apple CEO Steve Jobs resigned from the Gap’s Board of Directors. Jobs, who is also the Chairman and CEO of Pixar Animation Studios, left the board to “focus on other priorities,” according to a statement released by Gap on Thursday.
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“On behalf of the Board, I’d like to thank Steve for his contributions,” said Gap Inc. Chairman Donald G. Fisher.
Late last month a report in BusinessWeek gave Jobs the dubious distinction of being on two of the worst ranked boards — Apple’s and the Gap’s.
Criteria used by BusinessWeek included the independence of the company boards, stock ownership and other values. BusinessWeek reportedly graded the companies on performance measures and governance, considering issues like executive compensation.
On Sept. 20, Oracle Chairman and CEO Larry Ellison resigned from Apple’s Board of Directors saying his schedule doesn’t allow him to attend enough of Apple’s board meetings to warrant a role as director.