Apple directors reelected, outside proposals rejected at annual shareholder meeting
Apple's board of directors were unanimously reelected to their positions at the company's annual shareholder meeting on Friday, while shareholder proposals on a variety of issues, including a mandate on diversity, were rejected.
There were a total of four shareholder proposals on the table for the meeting, including a pledge to reach net-zero greenhouse gas emissions by 2030, and to cease business in countries that commit human rights violations. None of them garnered enough support to pass.
Apple's board, however, was given a passing grade. It includes former U.S. Vice President Al Gore, Disney CEO Bob Iger, and Chairman Arthur D. Levinson.
Chief Executive Tim Cook was present at Friday's meeting, and commented on his company's ongoing encryption battle with the FBI, saying that a tough fight with the U.S. government "doesn't scare us."
The Rev. Jesse Jackson was also at the Apple annual shareholder meeting, and praised Apple for increasing diversity among its workforce and its executive team. The company also revealed that it pays women 99.6 percent the pay of men, while minorities earn 99.7 percent that of white workers.
There were a total of four shareholder proposals on the table for the meeting, including a pledge to reach net-zero greenhouse gas emissions by 2030, and to cease business in countries that commit human rights violations. None of them garnered enough support to pass.
Apple's board, however, was given a passing grade. It includes former U.S. Vice President Al Gore, Disney CEO Bob Iger, and Chairman Arthur D. Levinson.
Chief Executive Tim Cook was present at Friday's meeting, and commented on his company's ongoing encryption battle with the FBI, saying that a tough fight with the U.S. government "doesn't scare us."
The Rev. Jesse Jackson was also at the Apple annual shareholder meeting, and praised Apple for increasing diversity among its workforce and its executive team. The company also revealed that it pays women 99.6 percent the pay of men, while minorities earn 99.7 percent that of white workers.
Comments
Angela Ahrendts spoke a little in response to a question. I think that's the first time I've heard her talk at one of these meetings. As usual, there were not a lot of specifics, but she and Tim were fairly enthusiastic about improved Enterprise and small business activity.
Revenues in India are about $1.5B per year but Tim thinks this is the very early years and the investments they make now will pay off in large measures a decade from now. He said India now looks like China ten years ago.
Other tidbits:
Most iOS developers are now in China.
I may have misunderstood this but I think Tim said that four out of five smart phones sold in China last year were iPhones.
Apple has 116,000 employees around the world. 65,000 are retail employees.
One third of Apple revenue comes from emerging markets.
Tim Cook was supported for his position by over 99% of the shareholders voting. All board members got over 95%.
Tim Cook used an iPad Pro (space grey I believe) for his prepared comments.
Most shareholder proposals got well under 10%. The one proposal for Shareholder Proxy Access got about 33% support. It might pass in a few years.
I've seen TC speak at several events and I thought he looked a bit tired (others noted this also). I know he gets up early (health/fitness fanatic), but I couldn't help but think that this court order, as well as the market slump isn't weighing heavily on him these days.