Feeds

Apple shareholders nix disclosure of Jobs succession plan

The first rule of Jobs Club is: You do not talk about Jobs Club

Top 5 reasons to deploy VMware with Tegile

Apple shareholders have rejected a proposal that would have required the company to disclose its CEO succession plans. So we still have no way of knowing how the company is handling the ongoing health problems facing current CEO and spiritual leader Steve Jobs.

The succession plan proposal was floated by the Central Laborers' Pension Fund of Jacksonville, Illinois, which holds about 11,500 shares of Apple stock, and was later endorsed by the Institutional Shareholder Services and the Laborers’ International Union of North America.

But according to The Wall Street Journal, an early vote count at Apple's annual shareholders meeting on Wednesday indicated that the measure had not passed. Apple's board had recommended that the plan be rejected.

If approved, the measure would have required Apple to "adopt and disclose a written and detailed succession planning policy". Jobs did not attend the meeting, as expected. He is currently on leave from Apple, with no date set for his return. Last year, Jobs received a liver transplant, which was apparently related to his earlier treatment for pancreatic cancer.

Chief Operating Officer Tim Cook is filling in for Jobs, just as he did in 2004 and 2009 when Jobs was on leave. Cook presided over today's shareholder's meeting. According to a report from The Journal, Jobs is still involved in strategic company decisions while he's officially on leave. ®

Top 5 reasons to deploy VMware with Tegile

More from The Register

next story
Bladerunner sequel might actually be good. Harrison Ford is in it
Go ahead, you're all clear, kid... Sorry, wrong film
Euro Parliament VOTES to BREAK UP GOOGLE. Er, OK then
It CANNA do it, captain.They DON'T have the POWER!
Musicians sue UK.gov over 'zero pay' copyright fix
Everyone else in Europe compensates us - why can't you?
I'll be back (and forward): Hollywood's time travel tribulations
Quick, call the Time Cops to sort out this paradox!
Megaupload overlord Kim Dotcom: The US HAS RADICALISED ME!
Now my lawyers have bailed 'cos I'm 'OFFICIALLY' BROKE
Forget Hillary, HP's ex CARLY FIORINA 'wants to be next US Prez'
Former CEO has political ambitions again, according to Washington DC sources
prev story

Whitepapers

10 ways wire data helps conquer IT complexity
IT teams can automatically detect problems across the IT environment, spot data theft, select unique pieces of transaction payloads to send to a data source, and more.
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.
How to determine if cloud backup is right for your servers
Two key factors, technical feasibility and TCO economics, that backup and IT operations managers should consider when assessing cloud backup.
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.
Mitigating web security risk with SSL certificates
Web-based systems are essential tools for running business processes and delivering services to customers.