Feeds

Apple shareholders call for transparent CEO 'succession plans'

Jittery board members warn against blabbing Cupertino's secrets

Beginner's guide to SSL certificates

Apple is advising its shareholders to vote against a proposal to reveal a “succession-planning policy” for the company’s CEO.

Meanwhile, the firm’s current boss Steve Jobs, who owns 5.5m shares in the iPhone maker, saw $1 slipped into his pay packet in 2010.

That figure matches the annual reward he has received since 1997 for heading up the Jobsian outfit.

According to a regulatory filing, Apple doesn’t want to publicly disclose any succession plan because the company is worried that such a move could affect its retention of its top people, who might be lured away by rivals.

“[T]he Board has a formal evaluation process in which it identifies and recommends development of internal candidates for succession based on criteria that reflect Apple’s business strategy,” said Apple.

It said adopting such a proposal “would give the company’s competitors an unfair advantage,” because it “would publicise the company’s confidential objectives and plans. Giving competitors access to this information is not in the best interest of the company or its shareholders.”

The Central Laborers’ Pension Fund, which owns more than 11,000 shares in the firm’s stock, will put forward the proposal at Apple’s annual shareholder’s meeting on 23 February.

Apple is clearly nervous about revealing delicate replacement plans for Jobs, who returned from medical leave in June 2009 after receiving a life-saving liver transplant. ®

Beginner's guide to SSL certificates

More from The Register

next story
Facebook pays INFINITELY MORE UK corp tax than in 2012
Thanks for the £3k, Zuck. Doh! you're IN CREDIT. Guess not
DOUBLE BONK: Testy fanbois catch Apple Pay picking pockets
Users wail as tapcash transactions are duplicated
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
Google Glassholes are UNDATEABLE – HP exec
You need an emotional connection, says touchy-feely MD... We can do that
YARR! Pirates walk the plank: DMCA magnets sink in Google results
Spaffing copyrighted stuff over the web? No search ranking for you
In the next four weeks, 100 people will decide the future of the web
While America tucks into Thanksgiving turkey, the world will be taking over the net
prev story

Whitepapers

Choosing cloud Backup services
Demystify how you can address your data protection needs in your small- to medium-sized business and select the best online backup service to meet your needs.
Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.