MacNN | Apple shareholders' meeting yields controversial votes
Mac News Network View: Standard | Headlines | Categorized | Slim
Mac News Network
Mac News iPod News Reviews Forums
 

Desktop Headlines
Apple shareholders' meeting yields controversial votes
Wednesday, February 27, 2013 @ 3:00pm

Apple has concluded today's annual shareholders' meeting, during which a number of proposals were voted on. Shareholders chose to re-elect the complete board of directors, and also approved items such as Apple's choice of accounting firm and a non-binding advisory vote on executive compensation. A measure that would've required executives to hold 33 percent of their stock awards until retirement was defeated, however, as was an initiative to create a board committee on human rights. Apple has regularly come under fire for the labor practices of its suppliers, although it has taken some steps towards improvement.



During a Q&A session, CEO Tim Cook took time to address several investor questions. He confirmed, for instance, that Apple won't be able to move into its new campus until 2016, and that the company is "seriously considering" funneling more cash to shareholders. On the topic of Apple's poor stock performance since last fall, Cook commented that he knows shareholders are "disappointed" with Apple's share price, but urged them to concentrate on the long term. He hinted that Apple is working on "new categories" of products, without going into detail. The meeting may be as notable for what didn't happen as what did. A rumored stock split never materialized, and Apple was legally barred from holding a vote on preferred stock. Had it been allowed, shareholders would've had to decide whether their approval should be sought for issuing such stock.

Comments on this Article
Print Friendly Version
Email to a Friend
Add MacNN to Your RSS Feeds
Buy from the Apple Store


Related Stories:

Most Recent Stories:

  • Friday Deals: Ultra HD monitor, Game and console bundles, more [U] - 9:15 PM EST
  • BlackBerry creeping closer to profit with $148 million quarterly loss - 3:20 PM EST
  • Briefly: Procreate Pocket illustration app; Switcheasy's new releases - 3:11 PM EST
  • Judge completely denies HP's Autonomy buy class action suit settlement - 2:45 PM EST
  • Google sues MPAA-driven Attorney General, Hood calls for 'time out' - 12:48 PM EST
  • Hands On: Artboard (OS X) - 11:24 AM EST
  • NK demands joint Sony hack investigation; Sony pulls movie promos - 11:03 AM EST

    Today's iPodNN Stories:
  • Halo studio giving ODST, free month of Live to compensate for issues - 10:00 AM EST
  • Briefly: Always-on voice search on Chrome OS, Amazon 4K video in UK - 9:22 PM EST
  • Google posts response to leaked Sony 'Project Goliath' emails - 4:41 AM EST
  • Plaintiffs in Google antitrust lawsuit required to submit more details - 11:13 PM EST
  • Interview fallout continues: actors complain, Team America taken down - 7:35 PM EST
  • No comments posted on this story yet. Please post yours.
    Your Comments
    In order to post comments, you must be a registered member of the MacNN Forums and logged in. Please login with your MacNN Forums username and password.

    MacNN Forums Login:

    MacNN Forums Password:

    Not a member of the MacNN forums? Register now for free.