330 lines
12 KiB
Plaintext
Executable File
330 lines
12 KiB
Plaintext
Executable File
finance
|
|
newsbysector
|
|
mediatechnologyandtelecoms
|
|
electronics
|
|
8344066
|
|
-----
|
|
# Apple investors signal they want more control over company
|
|
|
|
## Apple shareholders have surprisingly backed a measure that will force
|
|
board directors to be elected with a majority vote, but failed to throw their
|
|
weight behind a proposal that would have compelled the iPhone maker to reveal
|
|
plans for who will eventually succeed Steve Jobs.
|
|
|
|
![Apple investors signal they want more say over company][1]
|
|
|
|
Apple investors signal they want more say over company Photo: PA
|
|
|
|
[![Richard Blackden][2]][3]
|
|
|
|
By [Richard Blackden][4] 8:08PM GMT 23 Feb 2011
|
|
|
|
[Comments][5]
|
|
|
|
The passing of the measure, which was put forward by the California Public
|
|
Employees' Retirement System, America's biggest pension fund, means that board
|
|
directors can no longer be elected with what's known as a plurality of the
|
|
vote, or whoever receives the most votes even if it it deosn't amount to a
|
|
majority.
|
|
|
|
The vote at Apple's Annual General Meeting is likely to be seen as a sign
|
|
that, despite the remarkable performance of Apple shares, investors are keen
|
|
to have a greater say in the running of the company.
|
|
|
|
Analysts have said that close-knit nature of the board may have contributed to
|
|
the limited nature of the disclosures over the health of Mr Jobs, who is
|
|
currently on medical leave for the third time in seven years.
|
|
|
|
However, as expected, shareholders rejected a proposal from the Laborers'
|
|
International Union of North America, another pension fund and Apple
|
|
shareholder, that called for the California-based company to reveal its
|
|
succession plan for Mr Jobs and detail how it was developing executives that
|
|
work for him.
|
|
|
|
Apple had urged shareholders to vote against both proposals, arguing that the
|
|
first would make it harder to retain board members and that the latter would
|
|
hand a critical advantage to rivals.
|
|
|
|
## Related Articles
|
|
|
|
* [Steve Jobs: career in gadgets][6]
|
|
|
|
23 Feb 2011
|
|
|
|
* [Apple under pressure on Steve Jobs successor][7]
|
|
|
|
23 Feb 2011
|
|
|
|
* [Apple boss Steve Jobs looking gaunt][8]
|
|
|
|
23 Feb 2011
|
|
|
|
* [Apple faces pressure to reveal succession plan at annual meeting][9]
|
|
|
|
23 Feb 2011
|
|
|
|
* [Apple iPad 2 launch set for March][10]
|
|
|
|
23 Feb 2011
|
|
|
|
* [iPhone 'becoming less popular'][11]
|
|
|
|
23 Feb 2011
|
|
|
|
The AGM was be the first time the Apple board had been questioned on the
|
|
company's plans since Mr Jobs stepped back from day-to-day operations last
|
|
month. That disclosure generated fresh anxiety among shareholders over the
|
|
health of Mr Jobs, who had surgery for cancer in 2004 and a liver transplant
|
|
in 2009. Mr Jobs, who is widely credited with transforming Apple since
|
|
returning in 1997 to the company he founded, has said that he will remain
|
|
involved in strategic decisions while he is on leave and intends to be back as
|
|
soon as possible.
|
|
|
|
Apple, which produced record profits of $6bn (£3.7bn) in the final three
|
|
months of last year, insisted that it does have a succession plan but said
|
|
revealing it would hand competitors an advantage.
|
|
|
|
In the quarter, Apple's sales surged 71pc higher to $26.7bn, as it sold 16.2m
|
|
iPhones, 4.13m Macs and 7.33m iPads. The success in the past decade of Macs,
|
|
the iPod, the iPhone and, from last year, the iPad has turned Apple into the
|
|
second-biggest company by market value in the US after ExxonMobil.
|
|
|
|
Apple has again picked Tim Cook, the company's chief operating officer, to
|
|
step into Mr Jobs's shoes. The company awarded Mr Cook $59.1m in pay last
|
|
year, including a bonus for running Apple during Mr Jobs's medical leave in
|
|
2009.
|
|
|
|
Mr Cook, who has been with Apple since 1998, told analysts last month that he
|
|
is very confident about the company's product pipeline. It has been reported
|
|
that the company is planning to unveil a new version of the iPad at an event
|
|
in San Francisco next week.
|
|
|
|
Industry watchers say that the new device is likely to be lighter and thinner
|
|
than the current iPad, and have a higher-resolution screen. Part of Apple's
|
|
success has been to generate intense speculation over its future products and,
|
|
in the run-up to next week's event, some say the company may also unveil a
|
|
cheaper, smaller version of the iPad.
|
|
|
|
So far the absence of Mr Jobs has done little to dent investors' enthusiasm
|
|
for the company's shares, which set fresh records last week. The shares were
|
|
trading up almost 1pc at $341.73 in afternoon trading in New York. They have
|
|
surged 74pc in the past 12 months.
|
|
|
|
[X][12] Share & bookmark
|
|
|
|
Delicious Facebook Google Messenger Reddit Twitter
|
|
|
|
Digg Fark LinkedIn Google Buzz StumbleUpon Y! Buzz
|
|
|
|
[What are these?][13]
|
|
|
|
* Share: [Share][12] [ ][14] [ ][15]
|
|
|
|
[Tweet][16]
|
|
|
|
http://www.telegraph.co.uk/finance/newsbysector/mediatechnologyandtelecoms/ele
|
|
ctronics/8344066/Apple-investors-signal-they-want-more-control-over-
|
|
company.html
|
|
|
|
Telegraph
|
|
|
|
## [Electronics][17]
|
|
|
|
* ### [Finance »][18]
|
|
|
|
* ### [News by Sector »][19]
|
|
|
|
* ### [Business Latest News »][20]
|
|
|
|
* ### [Apple »][21]
|
|
|
|
* ### [Steve Jobs »][22]
|
|
|
|
In finance
|
|
|
|
[![2010 International Consumer Electronics Show (CES) in Las Vegas, Nevada: A
|
|
visitor takes a photograph at the Microsoft booth ][23] ][24]
|
|
|
|
### [CES 2010 in Las Vegas][24]
|
|
|
|
[![][25] ][26]
|
|
|
|
### [Nokia: a handset history][26]
|
|
|
|
[![][27] ][28]
|
|
|
|
### [Apple iPod: a history in pictures][28]
|
|
|
|
[![Fair hostess Jasmin present an Intel chip used for the Intel Centrino Atom
|
|
processing technology][29]][30]
|
|
|
|
### [Electronics vacancies at Telegraph Jobs][30]
|
|
|
|
[X][12] Share & bookmark
|
|
|
|
Delicious Facebook Google Messenger Reddit Twitter
|
|
|
|
Digg Fark LinkedIn Google Buzz StumbleUpon Y! Buzz
|
|
|
|
[What are these?][13]
|
|
|
|
Share:
|
|
|
|
* [ ][12]
|
|
|
|
* [ ][14]
|
|
|
|
* [ ][15]
|
|
|
|
* [Tweet][16]
|
|
|
|
* Advertisement
|
|
|
|
![][31]
|
|
|
|
telegraphuk
|
|
|
|
Please enable JavaScript to view the [comments powered by Disqus.][32] [blog
|
|
comments powered by Disqus][33]
|
|
|
|
Advertisement
|
|
|
|
[Market Data »][34]
|
|
|
|
Finance Most Viewed
|
|
|
|
* TODAY
|
|
|
|
* PAST WEEK
|
|
|
|
* PAST MONTH
|
|
|
|
1. [Britain faces bleak two years after feeble economic growth][35]
|
|
|
|
2. [Look, even Sweden charges for healthcare][36]
|
|
|
|
3. [BMW blames speculators as aluminium costs rise][37]
|
|
|
|
4. [US consumers in spending retreat][38]
|
|
|
|
5. [Google sued by PayPal in Silicon Valley's mobile war][39]
|
|
|
|
1. [What happens when Greece defaults][40]
|
|
|
|
2. [Dominique Strauss-Kahn: DNA samples confirm sperm traces on maid's
|
|
dress][41]
|
|
|
|
3. [It's ever more obvious, Greece must leave the euro][42]
|
|
|
|
4. [Dominique Strauss-Kahn: new claims of sexual misconduct add to pressure
|
|
on former IMF chief][43]
|
|
|
|
5. [How the euro crisis end game might look][44]
|
|
|
|
1. [What happens when Greece defaults][40]
|
|
|
|
2. [Dominique Strauss-Kahn: IMF head 'hired prostitutes from Manhattan
|
|
madam'][45]
|
|
|
|
3. [Dominique Strauss-Kahn: DNA samples confirm sperm traces on maid's
|
|
dress][41]
|
|
|
|
4. [A tax-based alternative to the Alternative Vote][46]
|
|
|
|
5. [Dominique Strauss-Kahn: maid experienced 'extraordinary trauma'][47]
|
|
|
|
Advertisement
|
|
|
|
Classified Advertising
|
|
|
|
* [Media Jobs][48]
|
|
|
|
* [Travel][49]
|
|
|
|
* [Culture][50]
|
|
|
|
Loading
|
|
|
|
[Find your ideal job with Telegraph Jobs][51]
|
|
|
|
var puffArray = eval('puffs_' + '8254872'); var guid = "671300"; var headline
|
|
= "Head of IT Projects"; var description = "London On Application"; var link =
|
|
"http://jobs.telegraph.co.uk/job/671300/permanent/london/head-of-it-projects-
|
|
job-vacancy.aspx?FromRSSFeed=-1014&WT.ac=671300"; var imageUrl =
|
|
"http://jobs.telegraph.co.uk/logos/CD/BE/CD011517-97D0-4352-968B-
|
|
C5E9ADCB88BE_140_87-v2.jpg"; var adWeight = "1"; puffArray.push({'id':guid,
|
|
'headline':headline, 'bodyText':description, 'link':link, 'imageUrl':imageUrl,
|
|
'weight':adWeight}); var puffArray = eval('puffs_' + '8254872'); var guid =
|
|
"676648"; var headline = "Web Manager / Website Analyst - Optimisation /
|
|
Analytics / Strategy"; var description = "Southampton, Hampshire £25000 -
|
|
£35000"; var link = "http://jobs.telegraph.co.uk/job/676648/permanent
|
|
/southampton-hampshire/web-manager-website-analyst-optimisation-analytics-
|
|
strategy-job-vacancy.aspx?FromRSSFeed=-1014&WT.ac=676648"; var imageUrl =
|
|
"http://jobs.telegraph.co.uk/logos/6F/0E/6F2FB65C-3EC1-481F-
|
|
9F40-5CA67946880E_140_87-v2.jpg"; var adWeight = "1";
|
|
puffArray.push({'id':guid, 'headline':headline, 'bodyText':description,
|
|
'link':link, 'imageUrl':imageUrl, 'weight':adWeight}); var puffArray =
|
|
eval('puffs_' + '8254872'); var guid = "671593"; var headline = "Account Sales
|
|
Manager (Recruitment)"; var description = "Victoria £24000 - £25000"; var link
|
|
= "http://jobs.telegraph.co.uk/job/671593/permanent/victoria/account-sales-
|
|
manager-recruitment-job-vacancy.aspx?FromRSSFeed=-1014&WT.ac=671593"; var
|
|
imageUrl = "http://jobs.telegraph.co.uk/logos/0F/68/0FA4CE08-AFF2-4E4D-A808-31
|
|
F656B85068_140_87-v2.jpg"; var adWeight = "1"; puffArray.push({'id':guid,
|
|
'headline':headline, 'bodyText':description, 'link':link, 'imageUrl':imageUrl,
|
|
'weight':adWeight}); var puffArray = eval('puffs_' + '8254872'); var guid =
|
|
"672395"; var headline = "PHP Developer, PHP Backend Programmer - OO PHP /
|
|
Zend Geek!"; var description = "Chatham, Kent £30000 - £40000"; var link =
|
|
"http://jobs.telegraph.co.uk/job/672395/permanent/chatham-kent/php-developer-
|
|
php-backend-programmer-oo-php-zend-geek~21-job-
|
|
vacancy.aspx?FromRSSFeed=-1014&WT.ac=672395"; var imageUrl =
|
|
"http://jobs.telegraph.co.uk/logos/6F/0E/6F2FB65C-3EC1-481F-
|
|
9F40-5CA67946880E_140_87-v2.jpg"; var adWeight = "1";
|
|
puffArray.push({'id':guid, 'headline':headline, 'bodyText':description,
|
|
'link':link, 'imageUrl':imageUrl, 'weight':adWeight}); var puffArray =
|
|
eval('puffs_' + '8254872'); var guid = "670591"; var headline = "Regional
|
|
Field Sales Manager - US Social Media Giant - Daily Deals"; var description =
|
|
"Edinburgh £40000"; var link =
|
|
"http://jobs.telegraph.co.uk/job/670591/permanent/edinburgh/regional-field-
|
|
sales-manager-us-social-media-giant-daily-deals-job-
|
|
vacancy.aspx?FromRSSFeed=-1014&WT.ac=670591"; var imageUrl =
|
|
"http://jobs.telegraph.co.uk/logos/6F/0E/6F2FB65C-3EC1-481F-
|
|
9F40-5CA67946880E_140_87-v2.jpg"; var adWeight = "1";
|
|
puffArray.push({'id':guid, 'headline':headline, 'bodyText':description,
|
|
'link':link, 'imageUrl':imageUrl, 'weight':adWeight}); var puffArray =
|
|
eval('puffs_' + '8254872'); var guid = "666084"; var headline = "Digital
|
|
Production Coordinator / Account Manager - Social Media Giant"; var
|
|
description = "Central London / West End (W1) On Application"; var link =
|
|
"http://jobs.telegraph.co.uk/job/666084/permanent/central-london-west-end-w1
|
|
/digital-production-coordinator-account-manager-social-media-giant-job-
|
|
vacancy.aspx?FromRSSFeed=-1014&WT.ac=666084"; var imageUrl =
|
|
"http://jobs.telegraph.co.uk/logos/6F/0E/6F2FB65C-3EC1-481F-
|
|
9F40-5CA67946880E_140_87-v2.jpg"; var adWeight = "1";
|
|
puffArray.push({'id':guid, 'headline':headline, 'bodyText':description,
|
|
'link':link, 'imageUrl':imageUrl, 'weight':adWeight}); var puffArray =
|
|
eval('puffs_' + '8254872'); var guid = "672202"; var headline = "Database /
|
|
CRM Marketing Executive - FMCG Email Marketing (2950)"; var description =
|
|
"Colchester, Essex On Application"; var link =
|
|
"http://jobs.telegraph.co.uk/job/672202/permanent/colchester-essex/database-
|
|
crm-marketing-executive-fmcg-email-marketing-2950-job-
|
|
vacancy.aspx?FromRSSFeed=-1014&WT.ac=672202"; var imageUrl =
|
|
"http://jobs.telegraph.co.uk/_resx/images/TGJobs-logo_140x87-v2.gif"; var
|
|
adWeight = "1"; puffArray.push({'id':guid, 'headline':headline,
|
|
'bodyText':description, 'link':link, 'imageUrl':imageUrl, 'weight':adWeight});
|
|
var puffArray = eval('puffs_' + '8254872'); var guid = "673740"; var headline
|
|
= "Tooling Gauge Designer"; var description = "Cleveland, Ohio On
|
|
Application"; var link = "http://jobs.telegraph.co.uk/job/673740/contract
|
|
/cleveland-ohio/tooling-gauge-designer-job-
|
|
vacancy.aspx?FromRSSFeed=-1014&WT.ac=673740"; var imageUrl =
|
|
"http://jobs.telegraph.co.uk/_resx/images/TGJobs-logo_140x87-v2.gif"; var
|
|
adWeight = "1"; puffArray.push({'id':guid, 'headline':headline,
|
|
'bodyText':description, 'link':link, 'imageUrl':imageUrl, 'weight':adWeight});
|
|
var puffArray = eval('puffs_' + '8254872'); var guid = "673742"; var headline
|
|
= "Bilingual Social Media Specialist"; var description = "Toronto, Ontario
|
|
(ON) $45000"; var link = "http://jobs.telegraph.co.uk/job/673742/permanent
|
|
/toronto-ontario-on/bilingual-social-media-specialist-job-
|
|
vacancy.aspx?FromRSSFeed=-1014&WT.ac=673742"; var imageUrl =
|
|
"http://jobs.telegraph.co.uk/_resx/images/TGJobs-logo_140x87-v2.gif"; var
|
|
adWeight = "1"; puffArray.push({'id':guid, 'headline':headline,
|
|
'bodyText':description, 'link':link, 'imageUrl':imageUrl, 'weight':adWeight});
|
|
|