Applefaces fresh shareholder pressure at its annual meeting this month from the largest US public pension fund, to change the way it elects directors.
Calpers– the California Public Employees’ Retirement System, – has called on the largest US company by market capitalisation to allow directors to be elected by majority voting.
At present, Apple shareholders can withhold their vote on an election of a director, but not vote against. If unopposed, a director requires only one vote in favour, regardless of how many votes are withheld.
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