The Federal Trade Commission may worry about the ties between the Google (GOOG) and Apple (AAPL) boards, but Google CEO Eric Schmidt clearly doesn’t share its concern. “I don’t think Google sees Apple as a primary competitor,” he said during a luncheon with reporters ahead of the company’s annual shareholder meeting. “We encourage people to be on other companies’ boards. In my case, if there are issues that are competitive I would recuse myself. I think it’s been well established that I recuse myself in areas of the iPhone.”

Asked directly if he would resign from Apple’s board in the face of FTC scrutiny, Schmidt bristled–”Why would you ask that question?”–and then said simply, “It hasn’t crossed my mind.”