Woolard to step off Apple board
Among the items on the agenda for the April 20 meeting is the re-election of six of the seven Apple (AAPL) board members. Besides Steve Jobs, the incumbents include Intuit Chairman William V. Campbell, STAR TV Chairman and CEO Gareth C.C. Chang, Gap CEO Millard S. "Mickey" Drexler, Oracle Corp. CEO Lawrence J. Ellison, and Micro Warehouse Chairman and CEO Jerome B. York.
The board proposed eliminating the seat vacated by Woolard.
Woolard, former chairman, president and CEO of E.I. du Pont de Nemours & Co., has served on Apple's board since 1996, making him the only remaining member who pre-dates Jobs' August 1997 return to the company's helm.
According to the proxy statement, Woolard will retire from the board immediately after the conclusion of the annual meeting, which will be held at Apple's Cupertino, Calif., headquarters.
Apple did not return phone calls requesting comment on Woolard's move.
The proxy statement, which is available from Apple's Web site as a Portable Document Format file, also reviews details on stock holdings and compensation for a who's who of Apple directors and executives.
Apple (AAPL) Jobs himself holds the most common stock among Apple's elite, with 5,020,001 shares. Senior Vice President for Worldwide Sales Mitchell Mandich and Senior Vice President for Worldwide Operations Timothy D. Cook were a distant second and third with 197,980 and 175,000 shares, respectively. Salary reported for top executives in 1999 ranged from $1 for Jobs to $605,260 for Executive Vice President and Chief Financial Officer Fred D. Anderson.
In other news, the company proposed an amendment to Apple's articles of incorporation to increase the number of authorized shares of common stock from 320,000 to 900,000.
Apple also revealed that in 1999 it paid "approximately $102,865" to Wing & a Prayer, a company wholly owned by Oracle's Ellison, for air transportation of Apple executives.