Thursday, February 24, 2011

Apple's Succession Issues

As co-founder and Chief Executive Steve Jobs has become indefinitely sidelined with an undisclosed medical condition, investors have increasingly demanded more information about the company’s future.

At its annual meeting on Wednesday, shareholders of the world’s most valuable technology company voted down a proposal to outline its plan for who will succeed Jobs. However, they passed a requirement for a majority vote before appointing unopposed board directors.

Tim Cook, Jobs’ top lieutenant, took the spotlight as shareholders dug for answers not just about Jobs, but also the company’s succession plan, what it might do with its $60 billion cash pile, and what devices may follow the iPad and the iPhone in coming years.

© 2011 Financial Post,

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