Business News

Investor demand for Apple succession plan gains key ally

Feb 4, 2011, 19:53 GMT

San Francisco - The calls for a succession plan for Apple's sick chief executive Steve Jobs are getting louder.

The influential shareholder advisory group, Institutional Shareholder Services (ISS), has added its voice to those demanding information about how Apple plans to replace its iconic founder if and when he can no longer do his job.

Jobs is currently on a medical leave of absence to treat an unspecified condition and has appointed Apple's Chief Operating Officer, Tim Cook, to lead the company in his absence.

The ISS made its recommendation on a proposal by an Apple shareholder, the Central Labourers' Pension Fund, which will be voted on at the company's Annual General Meeting on February 23.

'ISS believes that shareholders would benefit by having a report on the company's succession plans disclosed annually,' ISS said, according to a release from the Labourers' International Union of North America. 'Such a report would enable shareholders to judge the board on its readiness and willingness to meet the demands of succession planning based on the circumstances at that time.'

Apple has so far refused to divulge a succession plan, saying that such an action would help competitors poach its best executives, and drive out other managers who are not slated to take a top position.

Jobs announced his open-ended medical leave last month. He was diagnosed with pancreatic cancer in 2004 and had a liver transplant in 2009.

Read more about Apple

Read more about US Business



COMMENT

FROM THE WEB

ZergNet

Further Reading on M&C

COMMENT on Investor demand for Apple succession plan gains key ally

comments powered by Disqus

Latest Headlines in Business

Monsters and Critics is Looking for Writers and Reviewers


Follow Us

Follow M&C on Pinterest

Search

Custom Search

Classic Games on M&C

Crush the Castle 2

Beer Pong

Bubble Bobble

Mah Jong Connect

Donkey Kong

Also Check Out

Summer Sizzlers: Everything's better when you see the world through Maui Jims

Summer Sizzlers: Everythings better when you see the world through Maui Jims
Everything is better when you see the world through Maui Jims. ... more

Summer Sizzlers 2013: Melt that butter, wedge that lemon because Lobster is coming your way

Summer Sizzlers 2013:  Melt that butter, wedge that lemon because Lobster is coming your way
Let’s face it, lobster is sexy. ... more

ASAPS called out for 'fluff' smartphone wrinkle scare by top cosmetic surgeon

ASAPS called out for fluff smartphone wrinkle scare by top cosmetic surgeon
Hey, have you heard the one about your smartphone causing your face to wrinkle and droop? ... more

Review: Plush Beauty Bar the place to get waxed in LA

Review: Plush Beauty Bar the place to get waxed in LA
Hey ladies, want to know a secret?  I accidentally discovered the best waxing spot in Los Angeles… and it was right down the street from me. ... more

June 2013 Best of Beauty finds: MitoQ, Murad Cleansing Oil, PrecisionMD Relastin Eye Silk

June 2013 Best of Beauty finds: MitoQ, Murad Cleansing Oil, PrecisionMD Relastin Eye Silk
This month sees three new players in crowded fields that have performed to promised standards and lived up to expectations and beyond. ... more

On the Web

ZergNet