Feeds

Apple shareholders demand CEO succession plan

What happens when Steve goes?

The Essential Guide to IT Transformation

Later today Apple's board will be asked to reveal its plans for replacing the company's absent boss Steve Jobs.

The current CEO is on medical leave from Cupertino for the third time in the past seven years.

The Apple chief told staff in January that the company board had agreed to his taking time off from the Mac and iPhone maker on medical grounds, however it didn't reveal any further details about his health.

"I will continue as CEO and be involved in major strategic decisions for the company," he said at the time, and confirmed that Tim Cook would take care of day-to-day operations at Apple.

Jobs returned to the tech vendor in June 2009 after receiving a life-saving liver transplant. But his most recent absence has sparked more questions from shareholders keen to know Apple's plans to manage the eventual succession.

Last month, just seven days before Jobs announced his most recent, open-ended medical absence, the company's board advised its shareholders to vote against a proposal to reveal a CEO “succession-planning policy”.

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

The Apple board will use the same argument today, according to a notice about the annual shareholder meeting, in order to avoid disclosing what it sees as sensitive information to its competitors. ®

Boost IT visibility and business value

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
The Essential Guide to IT Transformation
ServiceNow discusses three IT transformations that can help CIO's automate IT services to transform IT and the enterprise.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
How modern custom applications can spur business growth
Learn how to create, deploy and manage custom applications without consuming or expanding the need for scarce, expensive IT resources.
Build a business case: developing custom apps
Learn how to maximize the value of custom applications by accelerating and simplifying their development.