Change in store at Apple
The official tally is in: A whopping 74 percent of Apple shareholders want more say over the board.
They approved a measure, backed by the California Public Employees’ Retirement System, that asks Apple to give investors the right to boot uncontested directors.
Apple currently elects directors under a “plurality” voting system, which allows directors in unopposed elections to be elected by a single “yes” vote.
Under the CalPERS proposal, board members would have to receive a majority of the vote to win, rather than a plurality. General Counsel Bruce Sewell didn’t respond to a request for comment on how Apple, which opposed the measure, plans to respond.
A proposal that asks Apple to disclose its succession plan received just 30 percent of the votes even though CEO Steve Jobs, who has handed over day-to-day operations to COO Tim Cook, is on medical leave.
Another proposal that received overwhelming backing will allow shareholders to express their views on executive compensation. .

