Feeds

Apple pressed to show succession plan

Board asked to give shareholders a peek at the future

Beginner's guide to SSL certificates

Apple has come under further pressure to tell shareholders how it plans to manage the eventual succession to Steve Jobs, after the CEO announced his latest and open-ended stint of medical leave.

Institutional Investor Services, a particularly influential shareholder advisory firm, has thrown its weight behind the Central Laborers Pension Fund's proposal that Apple should disclose its succession planning each year.

The non-binding proposal is expected to go before shareholders at Apple's annual meeting later this month.

ISS' intervention is significant, as institutional investors in major companies rely on it to guide them on how to vote on shareholder proposals. It played a particularly prominent role in the drawn out proxy fight around HP's proposal to take over Compaq almost ten years ago.

Apple has consistently opposed the idea of making its succession plans public. On the one hand this is understandable, as it would expose its strategic plans and single out its most valued execs making them vulnerable to poaching from rivals. But on the other hand, given Jobs' almost messianic status within and outside the firm, major shareholders are getting nervous about who would lead the company should his absence become permanent.

A spokeswoman for the union told the Financial Times that it wasn't asking Apple to name the potential successors, but rather to simply outline what the succession plan was.

She added that it didn't actually expect the proposal to pass - at least not this year. ®

Intelligent flash storage arrays

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.
Getting started with customer-focused identity management
Learn why identity is a fundamental requirement to digital growth, and how without it there is no way to identify and engage customers in a meaningful way.
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.
Simplify SSL certificate management across the enterprise
Simple steps to take control of SSL across the enterprise, and recommendations for a management platform for full visibility and single-point of control for these Certificates.
Saudi Petroleum chooses Tegile storage solution
A storage solution that addresses company growth and performance for business-critical applications of caseware archive and search along with other key operational systems.