Apple shareholders reject the proposed succession plan

Apple's Board of Directors will not be required to disclose publicly his plans for the succession of the CEO, after shareholders voted down a proposal to the company's annual meeting Wednesday. The proposal was the focus of much attention before the shareholders meeting, which seemed to be as much about the health of CEO Steve Jobs, not the health of Apple.

Still, during a question and answer session with investors, managers of Apple has addressed other issues surrounding the company, including deleting some suggestions about possible updates to iOS devices from Apple for the Print event just announced planned for next week.

Succession plan

Steve Jobs not may not have been present Wednesday, but the CEO was the focus of discussion at the meeting of the morning. In the light of its expectation for medical reasons, his health not only attracted a good number of questions, but also the interest of several television crews stationed outside the home.

With a calendar for the return of Jobs ' for the position of CEO, uncertain, shareholders voted down a proposed succession plan. The proposal would be approved, the Board of Directors of Apple to develop internal candidates, develop criteria for the position of CEO and begin the succession of non-emergency planning CEO of at least three years before a planned transition. The plan also provided for an annual report to be produced by the Board of Directors on a succession plan to be presented to shareholders.

Jennifer O'Dell, Assistant Director for Corporate Affairs for international workers Union of North America (LIUNA), argued for a succession plan, citing the shareholders need to know how "Apple could manage a vacant CEO." The proposal, he added, would not have turned out to be released that candidates the company was looking in a succession plan proposed, but would "company to be on foot safe" should the position of CEO. Hewlett-Packard and Intel have succession plans, supported, and this plan would be an opportunity for Apple to "stand in favour of responsibility".

However, shareholders rejected the measure, according to preliminary vote totals. Council of the Apple Board was opposed to the proposal for a succession plan, arguing that already has a formal process in place and who publicly reveal his plans would play into the hands of competitors.

Even as shareholders rejected the proposal, health work was a theme frequently during the question and answer portion of the meeting-mainly in the form of well-wishes from shareholders. Chief operating officer Tim Cook, who is managing the daily duties of employment during the latter's absence and Bruce Sewell, Apple's senior vice president and general counsel, thanked well-wishers, but did not elaborate further the health of CEO.

Event 2 March

The shareholder meeting also features frequent mentions of Apple event scheduled on 2 March, usually by executives of Apple. Cook spoke at the event when it comes to sales figures for the iPhone at Verizon during the end of his presentation, and the subject came up again when a shareholder asked iPad new information on new iPhones remain competitive within the mobile and Tablet PC markets.

Cook "2 March might give you clues," he said.

Android versus iOS

Many issues of Apple's main rival in the mobile market, Google's Android operating system.

As Windows and OS X, Android is perceived to be a more open operating system for developers. One shareholder asked possibility of Android to have different modules that expand its input options, something the shareholder said that Apple has been slow to embrace. Scott Forstall, Apple's senior vice president of iPhone software, brushed off the suggestion and instead discussed uniqueness of iOS in the market.

Taking a shot at Google, Forstall said, "we are careful with how we expand". For Apple, he explained, is all about ensuring the ability and applications continue to work even after the updates of iOS. In this sense, Forstall said Apple is as careful regarding the virus and that when plug-in change multiple apps, "becomes difficult to protect those applications."

A shareholder has applied a parallel between the battle of Android and iOS and competition in the 1990s between Windows PCs and Macs. Phil Schiller, Apple senior vice president of worldwide product marketing, quickly rejected the comparison. Defended its strategy of Apple in 1990, calling it "a great."

As evidence, said that in the computer market, companies like IBM and Compaq "aren't around anymore" while Apple is yet. More important, Schiller added, when it comes to the actual competition, with more than 300,000 apps in the App Store, Apple iOS is ahead in the software. Schiller said that Apple has the opposite problem with Mac: "we can do much better this time."

iOS in the enterprise

With consumer-friendly products like the iPhone and iPod and Mac Xserve server outage, some meeting participants argued that Apple has become more and more consumer-oriented. But Cook defended Apple's commitment to the enterprise with a pair of staggering statistics: according to Cook, 88% of Fortune 100 companies are testing, and deployment of the iPhone. Meanwhile, 80% of Fortune 100 companies are testing, and deployment iPad. So, while Apple has become synonymous with "consumer-friendly," Apple executives believe that the company's products are still making an impact on the enterprise market.

Meanwhile, the Mac has not been forgotten. Cook warned "don't underestimate the Mac" — are diversifying the IOC, he noted, and the most work environments are finding Mac to be useful to have around the Office, particularly when there is a virus that affects Windows PCs but not Mac.

Other votes

Shareholder votes went largely as planned, with all seven members of the Board of Directors re-elected, and Ernst & Young ratified as of independent registered public accounting firm for 2011. Yet, despite the recommendation of the Council of Directors, the shareholders voted to adopt a standard for the election of the Director.

Sponsored by public employees retirement system (CalPERS) California, the proposal will ensure that the Director "candidates are elected in the elections is not challenged by the affirmative of the majority." Current rules Apple allow a Director to be elected with votes "withheld" votes have no effect. CalPERS maintains that this makes "impossible to defeat the appointment of administrators that manage unchallenged." Anne Simpson, senior portfolio manager for corporate governance at CalPER, said that the proposal will ensure "the Board shall be held responsible."

"Responsible Capitalism is based on transparency," Simpson said, adding that the proposal, giving shareholders more power over elections, would "keep fresh apples."

For other Macintosh computing news, visit Macworld. Story copyright © 2011 Mac Publishing LLC. All rights reserved.

Shareholders of Nokia plan b give up after 36 hours

Yesterday we reported some shareholders of Nokia offered a plan b for the company who also wrote a long list of suggestions. The Group of nine young Nokia shareholders was planning to challenge the company's strategy and the partnership with Microsoft in the next annual general meeting scheduled for May 3, 2011. After 36 hours, however, the Group withdrew.

The nine wanted to change the current management seriously, which included getting the expulsion of Nokia's CEO Stephen Elop. They argued that Nokia will maintain ownership and control of the level of its software products because the software is where the value of innovation, differentiation and shareholder more easily can be created. They also wanted a renewal in hiring strategy, the Elimination of outdated and bureaucratic R&D practices and at all costs avoid becoming "a poorly differentiated OEM".

Now, all that went out the window. Are cited two reasons: for the moment their plan also came to fruition, the most talented software developers to Nokia would've gone, and institutional investors who own most stocks of Nokia have told them that their fiduciary liability through bars them with an activist. You can read the full decision output, aptly named call closes, below:

After reviewing the feedback we received from investors on our plan B, we decided not to continue with it.

In the last 36 hours we were contacted by hundreds of individual shareholders (anywhere from 10 to 400 000 Nokia shares) with a commitment to support us by voting by proxy or in person by attending the AGM.

However, the responses we received from institutional investors were not encouraging. These institutions have a fiduciary responsibility to their clients and are legally bared by supporting initiatives radicals such as seating a bunch of children on board. If you do not agree with Nokia plans, are better simply transfer and put their money into companies that best fit their investment strategy (which is exactly what they did).

We also understand that by the time that our plan b would kick in, most of the remaining software talent in Nokia would have already left the company, so it really would be an uphill battle to collect things from there.

This is from us. It is up to you what to do with your money. We'll stop short of endorsing NokiaPlanC.com or NokiaPlanX.com, even if we think that they are both excellent ideas.