Apple’s board of directors has waived its age cap so two members can be up for re-election, reports the Wall Street Journal.
The tech giant’s board said in a Thursday filing it determined it would be in the best interests of Apple and its shareholders to ask Chair Art Levinson, CEO of the health company Calico, and audit committee chair Ron Sugar to stand for re-election. As a result, the board waived for each of them its guideline stipulating directors may not be re-elected after hitting age 75.
The board cited Levinson’s and Sugar’s expertise, experience and knowledge of Apple’s business. Levinson, 75, has served on Apple’s board of directors since 2000 and was named chair in 2011.
Sugar, 77, has been a director since 2010. That was the year he retired as chief and CEO of Northrop Grumman, a a multinational aerospace and defense technology company.
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Article provided with permission from AppleWorld.Today
