Update October 2009: Arthur Levison, an Apple director since 2000, has resigned his position on the Google board.
Update July 2009: Eric Schmidt resigned his seat on the Apple board citing increased competition between Apple and Google. The FTC applauded the decision but vowed to continue the investigation.
The FTC has launched a probe into whether Google CEO Eric Schmidt and former Genetech CEO Arthur Levinson presence as directors of both Apple and Google violates Section 8 of the Clayton Antitrust Act, which prohibits “interlocking directorates” of companies if the common link decreases competition between them. The link, however, is not considered illegal if the revenue from products in which the companies compete is less than two percent of either company’s sales.