English | دری

Apple investors win greater say over board of directors

in International Business

Apple investors win greater say over board of directors

Apple shareholders are to be given a greater say in selecting the firm’s board of directors.

It comes after the company agreed to change its governance rules. In future directors will have to win the backing of the majority of shareholders to win a seat on the board.

Previously investors could only object by withholding their vote.

The change of policy came after a campaign by Calpers, the largest US public-sector pension fund.

Almost 80% of firms in the S&P 500 stock index now operate a similar policy.

Apple announced the change at the first annual gathering of shareholders since the death of co-founder Steve Jobs.

Chief executive Tim Cook also repeated that he had been “thinking very deeply” about what to do with the company’s large reserve of funds.

Shareholders are keen for Apple to deploy some of the $98bn (£62bn) it holds in cash and shares.

Source: BBC


Related Articles

Scottish economy slumps while rest of UK economy grows

Scotland’s Chief Statistician has recorded a 0.2% decline in the country’s economy in the last quarter of 2016. In contrast,

Asia Markets Soar as US Fed Launches Stimulus Plan

After the US Federal Reserve unveiled its latest stimulus plan, Asian markets have risen. Japan’s Nikkei 225 index rose 1.8%,

China’s manufacturing activity continues to dwindle

With Purchasing Manager’s Index (PMI) falling from 48.2 in June to 47.7 in July, China is witnessing its 11-month low

No comments

Write a comment
No Comments Yet! You can be first to comment this post!

Write a Comment

Your e-mail address will not be published.
Required fields are marked*

Time limit is exhausted. Please reload the CAPTCHA.