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Wearables: Article

Apple Succession Plans Remain Top Secret

Apple opposed the succession disclosure claiming it would weaken its chances of retaining and recruiting top talent

Apple stockholders Wednesday morning voted down a proposal to make the company disclose its succession plans in case its frail CEO Steve Jobs, who's had cancer surgery and a liver transplant and can't seem to put on weight, can't come back from his latest indefinite medical leave.

Jobs, who left COO Tim Cook to run Apple again day-to-day, did manage to make a private dinner with Barack Obama and a bunch of other Silicon Valley CEOs last week. He is also said to be working from home.

Apple opposed the succession disclosure claiming it would weaken its chances of retaining and recruiting top talent and give away secrets its competitors would like to know.

In a surprise move, however, stockholders did approve a CalPERS-backed proposal to require board members to be elected by a majority vote rather than a plurality. It wasn't expected to pass and Apple claimed it will make it harder to keep directors. It gives stockholders more say.

The whole board reportedly showed up at the stockholders meeting.

More Stories By Maureen O'Gara

Maureen O'Gara the most read technology reporter for the past 20 years, is the Cloud Computing and Virtualization News Desk editor of SYS-CON Media. She is the publisher of famous "Billygrams" and the editor-in-chief of "Client/Server News" for more than a decade. One of the most respected technology reporters in the business, Maureen can be reached by email at maureen(at)sys-con.com or paperboy(at)g2news.com, and by phone at 516 759-7025. Twitter: @MaureenOGara

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