“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.”
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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.”
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