Google CEO Dr. Eric Schmidt Joins Apple's Board of Directors

Apple today announced that Dr. Eric Schmidt, chief executive officer of Google, was elected to Apple's board of directors at their meeting today. Eric also sits on Google's board of directors and Princeton University's board of trustees.

"Eric is obviously doing a terrific job as CEO of Google, and we look forward to his contributions as a member of Apple's board of directors," said Steve Jobs, Apple's CEO. "Like Apple, Google is very focused on innovation and we think Eric's insights and experience will be very valuable in helping to guide Apple in the years ahead."

Normally board appointments are kinda "meh" news, but this one's going to raise some eyebrows.

One need look no further than .Mac to see that Apple hasn't quite got the same vision around online services that Google does (or perhaps they do have the vision, they just lack the execution, either way). Tapping into the network-oriented thinking of a company like Google could only be good news for Apple.

For Google, this is about recognizing that the box on the customer's desk (or lap, or in their living room, or in the palm of their hand) matters, and Apple's set the bar.

Of course, this is also a gesture designed to induce some sleeplessness near Seattle, as the folks in Redmond try to figure out how this could affect them. As the WSJ points out:

While most board appointments in the technology industry escape wide notice, the Apple announcement unites two of the most high-profile executives in the business -- Mr. Schmidt and Apple CEO Steve Jobs -- prompting speculation that the move could lead to a deeper alliance between the companies at some point.

Some analysts interpreted the appointment of 51-year-old Mr. Schmidt as an event that could help Apple embrace new sources of revenue like Internet advertising, the foundation of Google's highly profitable business.

Mr. Jobs has linked Apple and Google in the past as innovators that have managed to stump their much larger rival, Microsoft. In a speech earlier this month to software developers, Mr. Jobs said Microsoft spends more than $5 billion a year on research and development, "yet these days all they seem to be able to do is try to copy Google and Apple."