In a rather unsurprising turn of events, CNN Money reports that Google CEO Eric Schmidt has resigned from Apple’s board of directors.

“Eric has been an excellent board member for Apple, investing his valuable time, talent, passion and wisdom to help make Apple successful,” said Apple CEO Steve Jobs in a statement. “Unfortunately, as Google enters more of Apple’s core businesses, with Android and now Chrome OS, Eric’s effectiveness as an Apple board member will be significantly diminished.”

As board members are expected to abstain from participating in business matters that would represent a conflict of interest, Google’s new interest in phones, operating systems and browsers puts Schmidt at odds with the majority of Apple’s core businesses.