Cupertino, Calif. – A shareholder proposal that asks Apple (NASD: AAPL)
to disclose succession plans for iconic CEO Steve Jobs has been backed by
Institutional Shareholder Services (ISS), an influential investor advisory
firm, The Wall Street Journal reports.
The calls come shortly after Jobs
announced he would take his third medical leave of absence from the company,
following leaves in 2004 and 2009 taken to battle pancreatic cancer and undergo
a liver transplant.
"All companies should have succession planning
policies and succession plans in place, and boards should periodically review
and update them," ISS said in its analysis.
"ISS believes that
shareholders would benefit by having a report on the company’s succession plans
disclosed annually. Such a report would enable shareholders to judge the board
on its readiness and willingness to meet the demands of succession planning
based on the circumstances at that time."
Shareholders will likely be
given a chance to consider the proposal at the company’s annual meeting on Feb.
23.
Related Links:
http://tinyurl.com/4e85jwm
(WSJ)
