
Apple shareholders lose vote on Jobs succession plan

A grop of shareholders at Apple has lost an attempt to force the company to disclose more informartion on its succession plans for CEO Steve Jobs. The proposal, brought by the Central Laborers' Pension Fund, had requested the board adopt and disclose a detailed succession planning policy that included the development of criteria for the CEO position, identification of internal candidates and the submission of an annual report to shareholders. Apple resisted the plan, and an initial vote tally from the AGM shows shareholders also rejected the measure, the Wall Street Journal reports. Jobs, who is currently on medical leave, didn't attend the meeting. A separate measure, brought by the Calpers pension fund, did succeed, and will see Apple move to majority voting for electing board directors.
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