“Apple Inc. faced shareholders Wednesday without the presence of its iconic CEO Steve Jobs, who remains on health leave from the company amid rumors that his long-running battle with cancer has resumed,” Dan Gallagher reports for MarketWatch.
“At the meeting, no shareholders addressed the issue directly, beyond wishing Jobs well. But the question of what is in store for the company should he leave his post hung over the meeting, in part because of a shareholder-sponsored resolution that sought greater clarity of the company’s planning for CEO succession,” Gallagher reports. “That measure failed…”
MacDailyNews Take: As predicted.
Gallagher reports, “Apple opposed the measure, saying it has thorough plans for Jobs’ succession. No details were given, but investors widely expect chief operating officer Tim Cook, who has run Apple in Jobs’ previous medical-related absences, to take over the CEO reins, with other current top Apple executives continuing to run their units.”
Read more in the full article here.
Gabriel Madway and Noel Randewich report for Reuters, “At Apple’s annual meeting on Wednesday, according to pension fund Calpers, about 74 percent of votes cast favored a nonbinding proposal by Calpers that unopposed candidates for the company’s board receive a majority of votes to win election.”
Read more in the full article here.
Rabble rabble.
Succession plan rejected, but secession plan for successionists is accepted.
If at first you don’t secede, you’ll always be considered a rebel. Yee haw!
Of course it was rejected. Unlike Microsoft, Apple isn’t run by stupid idiots.
You can’t tell the most successful company in the world how to run its internal business.
Announcing a succession plan immediately puts paid to any bright and motivated talent looking to work their way up the ladder, why bother when the matter has already been decided.
Hey it’s 12:30am here in the UK soooooo, Happy Birthday Steve, good health wishes to you.
It seems the shareholder pushing for the succession plan to be revealed was the Central Laborers Fund, which owns $4 million worth of Apple shares. That’s like a guy with a penny in his pocket putting “pressure” on the Federal Reserve!
That’s a good way of looking at this.
I voted my 1,500 shares same way Steve voted!
Left Union Guys only 10,000 shares left and I am sure just MacDaily followers had more than 10,000x the shares needed to trump ’em!
Apple Store’s are down for updates. MacBook Pros real soon. 🙂
CRUSHED as expected.
I’m a shareholder, several thousand, and I don’t need some artificial eyewash piece of paper. Succession was clarified years ago as Jobs assembled the finest management team on the planet and inculcated them with his vision. I’m fine with that.