Apple’s Board Gets Another Term From Shareholders

Apples Board Gets Another Term From Shareholders 300x225 Apples Board Gets Another Term From ShareholdersApple shareholders voted to retain all eight members of Apple’s board of directors today.

Although their reelection isn’t a surprise, the outcome of today’s election wasn’t certain ahead of the vote. This year’s election was subjected to a new provision enacted by shareholders last year. The provision requires board members to secure a majority of the vote among shareholders to retain their seats.

The only drama today in Cupertino, California resulted from a shareholder vote on two proposals. One related to executives and the amount of company stock they can hold, and the other sought the creation of a human rights committee by Apple’s board.

Both proposals were rejected according to CNET.

The one dealing with executive stock asked for Apple’s top executives to hold onto at least 33 percent of their shares until they reach the age of retirement, a requirement the proposal’s creator says would “focus our executives on our company’s long-term success.”

The human rights committee was shot down after Apple’s board explained the company’s Supplier Code of Conduct already holds manufacturing and supply partners to high standards of conduct with regard to human rights.

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