Advisory firm backs Apple CEO succession plan | iLounge News

News

Advisory firm backs Apple CEO succession plan

An Apple shareholder proposal designed to force the company to disclose its succession plan for CEO Steve Jobs has gained the support of Institutional Shareholder Services (ISS), a proxy-advising service. Bloomberg reports that the ISS wants Apple to disclose a CEO succession plan every year, and that the move is backed by the Laborers’ International Union of North America. “A vote for the shareholder proposal to adopt a succession planning policy is warranted in light of the company’s limited disclosure regarding this issue and the market’s expression of concern over CEO succession at Apple,” ISS said in a report. Apple, through its proxy statement (PDF Link), has asked shareholders to vote against the proposal, claiming that public disclosure of the company’s succession planning — which is required of the board and CEO annually, and included naming candidates for succession — could give competitors an unfair advantage, and give them the opportunity to poach current or future executives. The proposal will be considered at Apple’s annual shareholder meeting, which will be held on Wednesday, February 23 in building 4 on Apple’s Cupertino campus.

« Latest edition of iLounge Weekly arriving soon

Verizon debuts new anti-AT&T iPhone ad »

Related Stories

Comments

If you have a comment, news tip, advertising inquiry, or coverage request, a question about iPods/iPhones/iPad or accessories, or if you sell or market iPod/iPhone/iPad products or services, read iLounge's Comments + Questions policies before posting, and fully identify yourself if you do. We will delete comments containing advertising, astroturfing, trolling, personal attacks, offensive language, or other objectionable content, then ban and/or publicly identify violators.

Commenting is not available in this section entry.
Sign up for the iLounge Weekly Newsletter

Email:

Recent News

Recent Reviews

Recent Articles

Sign up for the iLounge Weekly Newsletter

Email:

iLounge is an independent resource for all things iPod, iPhone, iPad, and beyond.
iPod, iPhone, iPad, iTunes, Apple TV, Mac, and the Apple logo are trademarks of Apple Inc.
iLounge is © 2001 - 2014 iLounge, Inc. All Rights Reserved. Terms of Use | Privacy Policy