Apple Shareholder Meeting: CEO Succession Plan Rejected, Majority Director Vote Approved, Data Center Going Live

152823 apple logo

Apple held its annual shareholder meeting today at its corporate headquarters in Cupertino, California, an event presided over by Chief Operating Officer Tim Cook in the absence of Steve Jobs. Fortune aggregated some of the live coverage of the meeting, which for the most part went off as expected.

One of the most highly-publicized issues addressed during the meeting was a motion proposed by several large stakeholders that would recommend that Apple adopt a detailed plan of succession should Steve Jobs permanently step down as CEO. Apple opposed the motion on the grounds that it could inhibit the company's ability to attract and retain talent at the senior executive level, and the motion was in fact defeated by shareholders.

The most controversial shareholder proposal -- that Apple adopt a detailed succession plan -- came up about 20 minutes later. According to the representative of the Central Laborers' Pension Fund who introduced it, Proposal No. 5 did not require the company to name names, she said, so management's fears about the proposal were unfounded.

But a preliminary proxy count suggested that the proposal had been defeated, as expected and as Apple had recommended.

Apple executives otherwise remained silent on Jobs and his health issues, although one attendee did receive a significant round of applause for his public well-wishes directed at Jobs. All seven directors, including Jobs, were also reelected.

Unlike the succession plan, one other shareholder-driven motion did pass: a movement to require a majority vote for the election of corporate directors, even when those directors are running unopposed. The motion, which was opposed by Apple for its potential to unintentionally hinder the naming of new directors while the company attempts to garner the required votes, did pass by a majority vote of the shareholders.

Apple also addressed the company's new North Carolina data center, which had been reported to be on track for an opening by the end of 2010. According to meeting reports, executives revealed that the data center is not yet operational, but should open sometime in the spring.

Popular Stories

apple ar headset concept 1

Apple's Headset Said to Feature 14 Cameras Enabling Lifelike Avatars, Jony Ive Has Remained Involved With Design

Friday May 20, 2022 6:50 am PDT by
Earlier this week, The Information's Wayne Ma outlined struggles that Apple has faced during the development of its long-rumored AR/VR headset. Now, in a follow-up report, he has shared several additional details about the wearable device. Apple headset render created by Ian Zelbo based on The Information reporting For starters, one of the headset's marquee features is said to be lifelike...
iPhone 14 Purple Lineup Feature

Will the iPhone 14 Be a Disappointment?

Saturday May 21, 2022 9:00 am PDT by
With around four months to go before Apple is expected to unveil the iPhone 14 lineup, the overwhelming majority of rumors related to the new devices so far have focused on the iPhone 14 Pro, rather than the standard iPhone 14 – leading to questions about how different the iPhone 14 will actually be from its predecessor, the iPhone 13. The iPhone 14 Pro and iPhone 14 Pro Max are expected...
sony headphones 1

Sony's New WH-1000XM5 Headphones vs. Apple's AirPods Max

Friday May 20, 2022 12:18 pm PDT by
Sony this week came out with an updated version of its popular over-ear noise canceling headphones, so we picked up a pair to compare them to the AirPods Max to see which headphones are better and whether it's worth buying the $400 WH-1000XM5 from Sony over Apple's $549 AirPods Max. Subscribe to the MacRumors YouTube channel for more videos. First of all, the AirPods Max win out when it comes ...
studio display 3

Apple's Rumored 27-Inch Mini-LED Display Now Said to Launch in October

Friday May 20, 2022 8:07 am PDT by
Apple now plans to release a new 27-inch display with mini-LED backlighting in October due to the Shanghai lockdown, which has resulted in production of the display being delayed, according to display industry consultant Ross Young. In a tweet, Young said Apple is in the process of moving production of the display from Quanta Computer to a different supplier and/or location, resulting in a...
HomePodandMini feature green

Kuo: Apple to Release New HomePod in Late 2022 or Early 2023

Friday May 20, 2022 8:55 am PDT by
Apple is working on an updated version of the HomePod that could come in the fourth quarter of 2022 or the first quarter of 2023, according to Apple analyst Ming-Chi Kuo. Kuo says that there "may not be much innovation in hardware design" for the new HomePod, and there is no word on what size the device will be and if it will be a HomePod mini successor or a larger speaker. Apple would ...
airtag purple

Best Apple Deals of the Week: Save on AirTag, AirPods 3, and iPads

Friday May 20, 2022 8:01 am PDT by
Solid markdowns on the AirTag, AirPods 3, and a few iPad models were introduced this week, and below you'll find all of the best deals of the past few days that are still available to purchase. AirTag Note: MacRumors is an affiliate partner with some of these vendors. When you click a link and make a purchase, we may receive a small payment, which helps us keep the site running. What's the...