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Shareholders Push Hard For Apple Succession Plan
eldavojohn writes "Apple has been a couple weeks now sans their iconic fearless leader and the shareholders are getting restless without a succession plan. Essentially the Institutional Shareholder Services (ISS) is saying that there hasn't been enough disclosure in why exactly Steve is absent and they'd like an annual succession plan delivered to shareholders. Apple is recommending that on February 23 at its annual company meeting, its shareholders vote against the proposal for a succession plan. Apple may have a plan for life after Steve Jobs but if they do they are not sharing it with anyone — not even their financiers!"
If there is no law that requires a succession plan, then Apple should not be made to make a plan.
So you're saying that the shareholders - the owners of the company - cannot direct any actions of their company? Only the government can direct action via law?
It doesn't hurt to be nice.
No corporation is required to have a succession plan. Why should Apple
Because shareholders own the company. If the company's owners want a succession plan then Apple had better well get cracking.
Regardless, your assertion is false - most large companies will have succession plans for key staff. Many willl go so far as to take out hefty life insurance policies to cover short-term risk if their CEO, chief product designer, star analyst etc... gets hit by a bus.
When you have nothing left to burn you must set yourself on fire
Why would Apple want to publish a plan if they have one? The top executives who aren't in line to move up will become dissatisfied and will look for opportunities elsewhere. The executives who are tapped won't have a timetable to move up, and will be sniped at and sabotaged by the executives who aren't in line in the hopes of improving their positions. It's a recipe for internal dissent and distraction.
Apple is right and should resist this call to appoint a successor. If the shareholders don't like it they always have the option of selling their shares.
In at approx. 75. Currently 340-ish. Yeah, they're treating me like garbage. I need more people to treat me like garbage like that.
He has a serious illness. That's all the info I need on his health. Seriously, does anyone on Planet Earth NOT know he's living on borrowed time (and livers)?
Succession plan? Tim Cook. Done. Again, does anyone with any interest in who leads Apple not know this?
Everybody gets what the majority deserves.