Apple puts board re-election in the hands of shareholders
CUPERTINO, Calif.--Apple this morning, at the start of its annual shareholders meeting, announced that the company is adopting a new policy requiring its directors to win a majority vote before being elected to the board.
The announcement preempted a related shareholder motion that had been proposed for the meeting.
Apple General Counsel Bruce Sewell said the board has gone against this policy for years due to the complexity it adds, but that shareholders over the past few years have been overwhelmingly for it.
"This is Apple and we don't let complexity get in the way," Sewell … Read more