According to reports, published in famous newspapers, a shareholder scheme to publicly announce a succession plan wins support from the influential Institutional Shareholder Services, when CEO Steve Jobs again taking medical leave.
Apple asked shareholders to vote against the measure. In the company's investor proxy statement, released Jan. 7, the board said, "… a highly talented and experienced management team, not just the CEO, is critical to Apple's success."
It continued, "As part of this annual review, the board has a formal evaluation process in which it identifies and recommends development of internal candidates for succession based on criteria that reflect Apple's business strategy."
Laborers' International Union of North America is also supporting Shareholder’s proposal. In a press release, the group said, "We're concerned to hear the news about Steve Jobs health and hope to see him return to full duties soon. However, this news demonstrates the need for Apple to do well by its shareholders, including our members' pension funds." The union said it had successfully lobbied other companies to release succession plans. Those companies included Hewlett-Packard Co., Verizon Communications Inc. and American Express Co.