News for
Jennifer O'Dell More at IMDbPro »

1 item from 2011

18 January 2011 7:01 AM, PST | | See recent news »

At the company's upcoming shareholders meeting, a pension fund plans to introduce a motion to require Apple’s board to publish a succession plan. The company is pushing back. Here’s why.

A proposal on the agenda at Apple's upcoming annual shareholders meeting asks the company to disclose its CEO succession plan. The company's board of directors is resisting the move, but now shareholders will vote in the wake of Monday's news that Steve Jobs is taking another medical leave, his third in seven years.

The proposal, which will be voted on at the Feb. 23 meeting, was introduced by the Central Laborers Pension Fund, which holds about 11,484 shares. It lists five elements of a core succession planning policy that Apple should have in place and would require the board to disclose its policy. Apple's board has recommended a "No" vote on the proposal, saying it would hurt the company's competitive position. »

- E.B. Boyd

1 item from 2011