With Apple CEO Steve Jobs on another medical leave, a shareholder group has formally demanded that Apple provide more details about its CEO succession planning.
Sponsored by the Central Laborer’s Pension Fund in Jacksonville, Ill., the shareholder resolution calls on Apple’s board to adopt and disclose a written “succession planning policy.” Under such a policy, the board would review its succession plan each year, maintain an emergency succession plan and “identify and develop internal candidates,” reports “MarketWatch” (http://macte.ch/2Jcbp).
Apple is against the measure, saying it has already abides by many of the proposed policies. The company further argues and that going public with its “confidential objectives and plans” isn’t in shareholders’ best interest.
