Calpers, the largest U.S. pension fund, is seeking support for a longstanding proposal to get Apple to require a majority vote before electing unopposed candidates to the company’s board, reports “Reuters” (http://macte.ch/ZYTNW).
The non-binding shareholder proposal again asks Apple to replace its plurality vote rule in uncontested elections, and require election by a majority of total shares, Calpers said in a regulatory filing on Thursday. Calpers, with $229 billion in assets, owned about 2 million Apple shares. The next Apple shareholder meeting is set for Feb. 23.