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  • Apple's Board of Directors Retain Their Positions While Some Initiatives Were Rejected

    Apple’s annual shareholder meeting was recently held at its corporate campus. For the most part it went by largely without any surprises as the company’s board of directors was reelected with near-universal support from shareholders while other initiatives were rejected.

    The Board of Directors ended up retaining their positions with 95% voting in favor. Another shareholder amendment demanded that the company disclose how much more money it is spending in its pursuit of alternative energy was rejected quickly with less than 2% support from shareholders. Another amendment to Apple’s employee stock purchase program was approved without any discussion at all. No specific details were given regarding the potential revisions to Apple’s quarterly dividends and share buyback program, both of which are expected to be revised in next month’s quarterly earnings call.

    There was also a proposal that was to allow shareholders to pick board members but this also failed to pass with less than 40% support. Some of the major shareholders said it was irrelevant because Apple is already working on such a plan. Apple CEO Tim Cook talked about Apple and IBM exploring additional opportunities together. For those of you who didn’t know, the two companies have been partnered on an iOS enterprise initiative that has seen IBM develop business-focused applications and implement iPhones and iPads in various industries. Cook said that “the conduit is wide open,” and noted that Big Blue is “not in the business we are in.” He also praised IBM’s “knowledge of verticals” and its “go-to-market team” in his comments to shareholders.

    Some of the people at the meeting attempted to press Cook in regards to making comments about Tesla. Unsurprisingly, Cook had avoided these questions but at one point he does hope that Tesla will implement CarPlay support into future vehicles.

    We’ll have to see what moves Apple makes going forward to continue its successful run.

    Source: AppleInsider
    This article was originally published in forum thread: Apple's Board of Directors Retain Their Positions While Some Initiatives Were Rejected started by Akshay Masand View original post