The proposal requires the introduction of’s board of directors elected a majority voting system, rather than the current plurality voting system, the proposal was in charge of the largest U.S. public pension fund California Public Pension Agency (hereinafter referred to as “CalPERS”) support, after who holds a lot of stock. Apple on these two proposals are opposed.
Support the majority voting system that Apple investors seeking the appointment of board members play a greater role. Reform of the system who support the company complain that in the past, Apple CEO Steve Jobs (Steve Jobs) the appointment of directors is always wavering. Yale School of Management professor Jeffrey Sonnenfeld said last year that Apple’s close relationship with members of the Board, which may affect the health status on the dissemination of information Jobs.
Majority voting system allows people who have been elected to Apple’s shareholders against the directors of the difficulty will increase, means that shareholders in the overthrow of Apple’s management decisions have more rights. Anne Simpson, CalPERS senior management (Anne Simpson) said that the vote of a majority voting system, the management issued a “strong and clear message” that companies should implement such a system. She said that many companies voluntarily adopt majority voting system.
The current shareholders, Apple shareholders approved the company’s current seven board directors re-elected, they are William Campbell, Millard Drexler , Albert Gore , Steve Jobs, Andrea Jung, Arthur Levinson and Ronald Sugar. In addition, Apple shareholders also approved the company hired Ernst & Young fiscal year 2011 as the independent registered public accounting firm.