Schmidt stepped down after months of scrutiny and online chatter about the fact that he sat on the board of a company that increasingly competes with his own. Schmidt wasnt alone, though. Genentech Board Chairman Arthur Levinson also sits on the boards of both Google and Apple.

Since this past spring, the FTC has been investigating whether by sharing two directors: Schmidt and Levinson. The 1914 Clayton Antitrust Act prohibits one person from sitting on the board of two rival companies if it reduces competition.

FTC Bureau of Competition Director Richard Feinstein acknowledged in a statement today that the agency has been looking into the issue and will continue to do so. We have been investigating the Google/Apple interlocking directorates issue for some time and commend them for recognizing that sharing directors raises competitive issues, as Google and Apple increasingly compete with each other, said Feinstein in a post on the FTC Web site. We will continue to investigate remaining interlocking directorates between the companies.

With Schmidt off Apples board, the spotlight is shifting to Levinson who came under fire today from a consumer group that wants him to vacate his seat on the board of either Google or Apple.

Consumer Watchdog, formerly known as the Foundation for Taxpayer and Consumer Rights, called on Levinson to pick one board or the other. It took Eric Schmidt far too long to realize that the two roles are incompatible. Thats not surprising considering the clubby atmosphere of Silicon Valley, said John M. Simpson, a Consumer Watchdog consumer advocate, in a written statement. Nonetheless, were glad Schmidt finally did the right thing. We call on Levinson to act responsibly and choose one company or the other.