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:

Today's MacNN Stories:

  • Sony reveals four sound bars, two receivers shipping this summer - 7:56 PM EST
  • Latest Apple environmental report out, shows larger carbon footprint - 7:30 PM EST
  • Apple now charging cards, preparing to ship first Apple Watch orders - 5:30 PM EST
  • Daily Deals: iPad Air 2 Retina, Lenovo ThinkPad Edge, Kindle Fire HD 7 - 3:22 PM EST
  • Review: Neurio Intelligent Home Monitor - 3:03 PM EST
  • Micromat uses more sensors for Mac diagnostics in TechTool Pro 8 - 11:22 AM EST
  • Hands On: BusyContacts 1.0.2 (OS X) - 9:04 AM EST
  • New Apple Watch bands revealed by Ive, Newson at Milan showcase - 8:02 AM EST
  • Pointers: look it up in the Dictionary (OS X, iOS) - 8:00 AM EST
  • Hands On: Office Lens 1.01 (iOS, Android) - 7:20 AM EST

    Today's iPodNN Stories:
  • Android Wear update will include app, Wi-Fi, emoji changes - 1:33 PM EST
  • Nokia reportedly planning return of branded mobile phones for 2016 - 9:05 AM EST
  • Sony unveils Xperia Z4, prepares to ship in Japan this summer - 6:53 AM EST
  • Google Wallet balances now have FDIC protection - 8:43 PM EST
  • Oregon 'fixes' recent tax law changes to encourage Google Fiber - 4:31 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.