04 Feb '11, 4am

Pressure on Apple to disclose Steve Jobs succession plan (via ST iPhone App)

SAN FRANCISCO - INFLUENTIAL investor advisory firm Institutional Shareholder Services has thrown its weight behind a shareholder proposal to require Apple to disclose a succession plan for chief executive Steve Jobs. The proposal backed by ISS, a proxy voting service, was submitted by the Central Laborers' Pension Fund on Thursday. In January, Jobs - the Apple CEO - stepped away from the company on medical leave for an undisclosed condition. Chief operating officer Tim Cook is now overseeing day-to-day operations. '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 Laborers' 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 circum...

Full article: http://www.straitstimes.com/BreakingNews/TechandScience/S...

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