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CalPERS proposal to change the election mechanism to elect a new Apple CEO

According to professionals reported leaving because of Steve Jobs, Apple will be 23 this month held its annual shareholders meeting. Apple holds a large number of shares held by a large number of civil service pension management institutions in California are given CalPERS proposal to Apple executives want to change the electoral system, voting system to more votes.

CalPERS said that their proposal has been supported by three shareholders, namely, Egan-Jones Proxy Services, Glass Lewis & Co and the ISS Proxy Advisory Services.However, Apple executives have clearly stated its opposition to the proposal.

Senior director of Apple’s current method of election for the simple majority rule, as long as no other comments the shareholders, only one vote in favor of director candidates to be elected. The CalPERS is the proposed introduction of an absolute majority system, so that a majority of the directors holding shares of the candidates still need to get shareholder support can be elected.

In addition, Egan-Jones Proxy Services also proposed that, due to illness leaving Jobs, Apple CEO should be elected as soon as possible successors. Apple’s board of directors as opposed to this proposal, saying that his successor is elected and qualified personnel on Apple stock to attract any good.

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