Apple board reassuring

Apple's board members at the annual shareholders meeting tried to boost investor confidence in the company despite Steve Jobs' absence. "I'm confident in the future of the company," said COO Tim Cook, the executive filling in for the CEO during his leave of absence. Cook also reminded the audience that Jobs still plans on returning to company after June.

“He is deeply involved in all strategic matters and has delegated day-to-day authority to Tim Cook and his team,” said Genentech CEO Arthur Levinson, referring to Jobs' contributions through his leave, according to the New York Times. "That's where it stands."

The CEO's health was brought up as the first item during the question and answer session, as a shareholder wanted to know if the company intentionally kept Jobs' health status a secret and asked about a succession plan.

"We believe we have met all disclosure obligations," Levinson responded. He claimed the company regularly discusses succession planning and that "if there is new information we deem of import to disclose, that will happen.”

Many shareholders were not satisfied with the lack of additional information, however. "I'm disappointed the board was not more forthcoming," said Brandon Rees, a representative of the AFL-CIO Reserve Fund, according to Dow Jones. "I feel like I don't know any more than I did," added Louis Malizia of the International Brotherhood of Teamsters.

Despite any disagreements the shareholders expressed over the disclosures, all eight board members were re-elected.

by MacNN Staff