Sunday, February 27, 2011

Apple beats out succession query

23 February 2011, Last updated at 21: 44 GMT by Maggie Shiels, BBC News technology reporter, Silicon Valley, Steve Jobs didn't say when, or if, the rudder will return Apple Apple has fought off efforts to reveal the succession plans for the time when Steve Jobs is no longer in charge of the company.

The proposal was presented by the Fund for workers of the plant during the annual meeting of shareholders of the company.

Steve Jobs, who is his third medical leave, did not attend the event at the headquarters of Apple in California.

Apple, a secret society known, he fought the proposal from the outset.

A count of preliminary proxy on the measure at issue has suggested that the proposed Fund had been defeated.

Was a move that disappointed Jennifer O'Dell, who made the proposal on behalf of the Fund, which represents the 500,000 construction workers across the United States and in Canada.

«Transparency»

"We want Steve Jobs to get back to work yesterday," Ms. O'Dell told BBC News.

"We want him to be here every day. We want to live forever.

"That is not realistic, and that's why they need to have a plan. And if they have a plan, and I'm sure they do, what's wrong with a little transparency?

Apple until now said that such a disclosure would give competitors a "unfair advantage" by publishing goals and plans of the company.

' Internal ' candidates

The first time, Mr Jobs took time off work to take care of her health was in 2004 when he revealed that he had been diagnosed with pancreatic cancer.

A second medical leave came in 2009 after a liver transplant.

When investors have expressed some concern about the future of the company, given how Mr. Jobs has seen central to its success.

The Illinois-based pension fund said it has submitted its proposal, last year, months before the most recent decision Mr Jobs ' taking time from work due to medical reasons.

The measure had called for Apple to develop a plan that would be reviewed each year which specifically established "criteria for the position of CEO" and "identifies and develops internal candidates" potentially fill the position.

The Fund has also called for CdA Apple start emergency planning for a new Executive Director three years before a planned transition.

' Real ' Debate

Despite the defeat, Ms O'Dell said that this was not the end of their efforts.

The Fund holds nearly 11,500 shares of Apple, a value of approximately $ 4 million (£ 2.4 m).

"If the company doesn't want to get in touch with us and have a real debate on this issue we will refile again next year," he said.

"Thirty companies have adopted this [succession plans] including HP and Intel.

"There are a lot of things we can do with this proposal.

"If the Board continues to not want to listen to long-term shareholders, to talk seriously about this problem, we can take a second step and hold directly responsible for the Management Board and we could hold our votes by members of the Board of Directors. We want to do it? NO. "

While Apple provided hundreds of thousands of workers with pension security, an enterprise cannot be executed by one person to dictate the role of the company, he said.

«Decisions»

In the absence of Mr Jobs ', the company is run by chief operating officer Tim Cook.

During the meeting of one hour, not shareholders questions on health of Mr. Jobs ', although a number wished him well for the future.

Out of the Office of the company, the majority opinion upheld the decision of Apple to hold his cards on succession close to his chest.

"I feel make public such a plan is useless," said Pam Pallakoff, a shareholder for 20 years.

"We feel the management in place is very good management and make the right decisions at the time that they need."

Fellow shareholder Shelton Ehrlich, 76, said he was glad he lost the proposal, and that he had faith that the company knew what he was doing.

"Mr jobs, if he is not here or here ... the company will complete his vision. At least for the next five years, everything is set up on a good path. "

Analysts have long agreed with this point of view, that Apple has a long pipeline of products and a deep bench of management with a wealth of experience.

Similarly confident in future Apple was a shareholder in 29-year-old Melissa Gutknecht, who has held the stock of the company since 2008.

"I am respectfully of the way that Apple is thinking of this problem and to understand that a lot is happening behind the scenes," he said.

"My thoughts are already have a plan in place and does not endanger the shareholder by any means. I think just trying to be smart about how they spread this information to shareholders and the public ".

More say

A proposal that was adopted was an undisputed requirement that the applicant's board of the company to receive a majority in order to be appointed.

The move was seen as a victory for Calpers, the largest pension fund in the United States, that the meeting was said, holds 1.6 m shares Apple worth just under $ 1 billion.

Apple was opposed to this measure and said that would hamper his ability to keep the members of its Board of Directors.

Analysts said that the vote has emphasized investors want more say in the selection of board members and more power to pass beyond the wishes of the management of Apple, which is seen as a very close-knit group.

IPad ad?

At the annual shareholders ' meeting also ignited a iPad updated entries, with an event in San Francisco next week dubbed come see what 2011 will be the year.

The company has sold more than 15 m of devices since its launch last April.

Mr Cook wouldn't talk about future products, but said she thought that the market for tablet PC was "huge, huge".

Unlike last year when iPad had the market almost to itself, this year will face increased competition from a number of companies from Google to HP of Research in Motion.

Much advertised Xoom Motorola tablet that runs an operating system developed by Google, goes on sale on Thursday.

The Xoom was crowned the best gadget at the giant Consumer electronics Show in Las Vegas last month.

Research in Motion plans to release four versions of its tablet PlayBook this year, largely intended for the enterprise market.

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