Apple reject calls for succession plan for Steve Jobs
The state of Steve Jobs health has come to the fore once more as Apple reject demands to reveal a succession plan for the co-founder.
The Central Laborers [sic] Pension Fund in Illinois – which owns 11,484 shares in Apple – called for clarification on the matter to ensure a “smooth transition” for anyone replacing Steve Jobs, if he decides not to return after going on leave in mid-January.
The Pension Fund didn’t ask for names – although Chief Operating Officer Tim Cook is regarded as Jobs’ heir apparent – but asked for both a three-year and emergency plan to appease the market and the company’s share price, which has wobbled every time news of Jobs’ health hits the headlines.
The proposal was rejected by investors, although experts believe it was closer than perhaps Apple would have liked.