Monica Lozano, the president and CEO of College Futures Foundation, has joined Apple’s board of directors. Lozano is also on the boards of Target and Bank of America Corporation.
“Monica has been a true leader and trailblazer in business, media, and an ever-widening circle of philanthropic efforts to realize a more equitable future — in our schools and in the lives of all people,” said Apple CEO Tim Cook in a statement. “Her values and breadth of experience will help Apple continue to grow, to innovate, and to be a force for good in the lives of our teams, customers, and communities.”
Apple’s press release notes that:
“Throughout her accomplished career as a business leader, public servant, and philanthropist, Lozano has made an indelible impact on companies and communities in the US and around the world, earning awards from organizations like The Leadership Conference on Civil and Human Rights and the United States Hispanic Chamber of Commerce.
In her role as CEO of College Futures Foundation, Lozano has been a tireless advocate for expanding access to higher education, partnering with philanthropic organizations, state and local governments, and local communities to improve opportunity for low-income students and students of color.”
Apple’s board of directors
Apple’s board of directors consists of eight people. Others include Arthur Levinson, James Bell, Al Gore, Tim Cook, Andrea Jung, Ronald Sugar, and Susan Wagner. The appointment of Lozano brings it closer to gender parity. This is something Apple has sometimes been criticized in the past for failing to do.
A board of directors is responsible for representing the interests of shareholders. Every public company must have one, made up of both people from inside the company and outside it. They make decisions related to dividend policies, executive compensation, and top-level hiring and firing, among other things.
Levinson, former chairman and CEO of Genentech, is the longest-serving member of Apple’s board of directors. He joined the board in 2000. Al Gore is the second longest-serving. Gore joined in 2003.