updated 01:40 pm EST, Wed February 23, 2011
Apple share meeting keeps CEO succession secret
Apple shareholders during the company's annual shareholder meeting voted down a measure that would have required a public CEO succession plan. The preliminary decision would let Apple keep Steve Jobs' eventual replacement a secret. Institutional Shareholder Services, a collective group, had called for the move to help them judge whether the Board of Directors was capable of handling a succession when ready.
The Mac maker has regularly insisted that it has a plan in place, but calls for it to be made public have grown louder in the face of Jobs' second medical leave and doubts about his ability to return. Unofficially, many believe COO Tim Cook is Jobs' heir and have pointed to him stepping in during both medical leaves as proof.
Along with the rejection, the company approved executive compensation and had a majority vote to maintain its Board of Directors. Ernst and Young has been reelected as Apple's accountant agency. The decisions were made based on 921 million voting shares, 81 percent of which were present at the meeting.
Jobs was absent from the meeting, but major board members such as former US Vice President Al Gore were present.