Apple has named board member Arthur Levinson as its new chairman, replacing company founder Steve Jobs who remained in the position after retiring as CEO in August, but passed away in October.
61-year-old Levinson is the chairman and former CEO of biotech firm Genentech, and sits on a number of other biotechnology organisation boards.
Apple CEO Tim Cook says Levinson is 'incredibly valuable' to Apple.
"Art has made enormous contributions to Apple since joining the board in 2000," Cook says.
"He has been our longest serving co-lead director, and his insight and leadership are incredibly valuable to Apple, our employees and our shareholders."
Also joining the board is Bob Iger, CEO of Disney. Iger had a strong relationship with Jobs, who became a member of the Disney board when the company purchased his animation studio, Pixar.
"[Iger's] strategic vision for Disney is based on three fundamentals: generating the best creative content possible, fostering innovation and utilizing the latest technology, and expanding into new markets around the world, which makes him a great fit for Apple," Cook says.