Shareholders Push Hard For Apple Succession Plan 233
eldavojohn writes "Apple has been a couple weeks now sans their iconic fearless leader and the shareholders are getting restless without a succession plan. Essentially the Institutional Shareholder Services (ISS) is saying that there hasn't been enough disclosure in why exactly Steve is absent and they'd like an annual succession plan delivered to shareholders. Apple is recommending that on February 23 at its annual company meeting, its shareholders vote against the proposal for a succession plan. Apple may have a plan for life after Steve Jobs but if they do they are not sharing it with anyone — not even their financiers!"
NO!! (Score:3, Insightful)
No corporation is required to have a succession plan. Why should Apple?
You are going to say that Steve is so important to Apples success and continued success that a plan should be required.
I'm going to say that Steve is one man that relies on many people to come up with a successful product.
If there is no law that requires a succession plan, then Apple should not be made to make a plan.
Re:NO!! (Score:5, Insightful)
If there is no law that requires a succession plan, then Apple should not be made to make a plan.
So you're saying that the shareholders - the owners of the company - cannot direct any actions of their company? Only the government can direct action via law?
succession plan = competitive disadvantage (Score:5, Insightful)
Why would Apple want to publish a plan if they have one? The top executives who aren't in line to move up will become dissatisfied and will look for opportunities elsewhere. The executives who are tapped won't have a timetable to move up, and will be sniped at and sabotaged by the executives who aren't in line in the hopes of improving their positions. It's a recipe for internal dissent and distraction.
Apple is right and should resist this call to appoint a successor. If the shareholders don't like it they always have the option of selling their shares.
Re:Apple treats its shareholders like garbage.. (Score:5, Insightful)
In at approx. 75. Currently 340-ish. Yeah, they're treating me like garbage. I need more people to treat me like garbage like that.
He has a serious illness. That's all the info I need on his health. Seriously, does anyone on Planet Earth NOT know he's living on borrowed time (and livers)?
Succession plan? Tim Cook. Done. Again, does anyone with any interest in who leads Apple not know this?