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Apple shareholders deny request to reveal Jobs succession plan

Apple shareholders rejected a proposal that required the company to disclose a succession plan.
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Written by John Hazard on

Apple shareholders rejected a proposal that required the company to disclose a succession plan.

Preliminary vote counts from the shareholders meeting in Cupertine, Calif., indicated the proposal was shot down shortly after the meeting began at 10 a.m. The news was noted by CNBC.

The proposal was brought forth by a pension fund ,which requested more detail on Apple's succession plan in light of the poor health of CEO and founder Steve Jobs.

Apple had argued that coughing up those succession details takes away its competitive edge. The company said it didn't want to restrain its board or allow rivals to poach executives not on the CEO short list.

At the shareholder meeting, Tim Cook, Apple's operating chief, spoke.

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