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AAPL Stock: 97.03 ( -0.16 )

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Shareholders vote to re-elect Apple board

updated 03:35 pm EST, Wed February 25, 2009

Apple board re-elected

Choosing at an annual meeting, Apple shareholders have voted to re-elect all members of the company's current board of directors. These include Al Gore, Intuit CEO Bill Campbell, J. Crew CEO Millard Drexler, Avon CEO Andrea Jung, Genentech head Arthur Levinson, Google CEO Eric Schmidt, and Harwinton Capital leader Jerome York. Most critical may be the re-election of Apple's own CEO, Steve Jobs, who together with the rest of the board will serve for at least one more year.

Despite its importance Jobs was absent from the meeting, in keeping with a medical leave set to last through June. The leave presents an unusual complication for the board, as one of its key members may be unavailable for half of the upcoming term. The vote is believed to represent a sign of confidence in Apple as well as Jobs however, which has been accused of having no backup plan in case its figurehead dies or is forced to retire.

Four shareholder proposals were additionally defeated at the meeting, including a Teamsters suggestion that the company should produce two reports each year listing the company's direct and indirect political expenditures. Apple directors have called the proposal "unnecessary and unproductive," while also admitting that it would expose private negotiations with trade associations to its rivals.

Likewise defeated was an AFL-CIO proposal calling for healthcare reform principles adopted from the Institute of Medicine, and another measure sponsored by groups including the New York City Office of the Comptroller, asking for more detailed reports on safety and sustainability issues, including global warming. The former was deflected as a matter for the US government, while the latter is said to already be provided on the Apple website.

The last measure to be defeated was one from the AFSCME Employees Pension Plan, calling for a shareholders' advisory vote on executive pay. The board of directors has held to the position that pay is its own prerogative, and that controls on executive salaries could affect the ability to recruit new blood.




by MacNN Staff

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Comments

  1. testudo

    Joined: Dec 1969

    -1

    oh good

    Another year of Bill "We swear, a new version of Quicken is coming soon, this one even less capable than the one you are using, and nowhere near as capable as the Windows Version" Campbell.

    Gotta love a board that includes people who have absolutely no desire to help the company.

  1. Bobfozz

    Joined: Dec 1969

    +3

    disagree with you testudo

    The only way to reach Campbell is to stop using his products... I myself am looking around for alternatives. I do question why HE is on the board at all.

    The shareholder's meeting on the other hand sounds like the usual bunch of bozos who have nothing else to do but fixate on problems which have little to do with Apple. Let's make a suggestion... take out your money and put it into something else. Yes, we can survive and will happily be fine without you. And maybe the meeting would end sooner too. These complaints get raised by professional wannabes who add nothing to the conversation.

    Comment buried. Show
  1. Monstermind

    Joined: Dec 1969

    -10

    Yay!

    Al Gore's not too busy running his paranoiac junk-science death cult to be on Apple's board!

  1. chas_m

    Moderator

    Joined: Dec 1969

    0

    Al Gore, Bill Campbell ..

    ... Eric Schmidt, all these "controversial" figures on Apple's board ...

    ... funny how the company's never done so well in its entire history, isn't it?

  1. JackWebb

    Joined: Dec 1969

    +2

    re: oh good

    I voted against about half the board. Quickbooks is my most hated software, I think... ever

  1. JackWebb

    Joined: Dec 1969

    -1

    re: controversial

    I don't know what this board does. Starting in 1997 I think this board has been taking directions from Jobs starting with the firing Gil Amelio. Seems like a puppet board to me with Jobs the puppet master.

  1. Guest

    Joined: Dec 1969

    -4

    Voted AGAINST All Of Em

    I voted against EVERYONE, and I included a special note requesting that the thumbs of the Mac Mini manager be cut off with a pair of rusty garden pliers.


    (hahaa funny... one of the captcha words is disposed. Exactly what I think of the Mac Mini manager)

  1. dimmer

    Joined: Dec 1969

    +9

    Response

    "Al Gore's not too busy running his paranoiac junk-science death cult to be on Apple's board!"

    1/ this isn't the place for politics

    2/ over 99% of environmental scientists agree that global climate change is real, and our activities directly influence it.

    Do some research.

  1. Guest

    Joined: Dec 1969

    0

    not CEO anymore

    Just a slight correction... Campbell is no longer Intuit's CEO, although he remains on the board.

  1. nat

    Joined: Dec 1969

    +2

    junk science

    so, beck tell you that? limbaugh? hannity?
    you got a thought there somewhere that's not simply regurgitating what you've been told?

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