Apple Shareholders ask for Jobs succession plan; Apple resists

Discussion in 'Apple, Inc and Tech Industry' started by belvdr, Feb 3, 2011.

  1. macrumors 601

    Joined:
    Aug 15, 2005
    #1
    http://arstechnica.com/apple/news/2...posal-gets-more-backers-but-apple-resists.ars

    It seems to me the shareholders have a right to know what is going on with a company they invested in. I don't think they are asking for anything they don't deserve.

    I think Apple's closed door policy may not work for them on this one, but it's up to voting now.
     
  2. macrumors 6502

    Joined:
    Feb 2, 2011
    #2
    I agree completely.

    There's been too much secrecy around Jobs whereabouts and condition when the medical issue raises it's ugly head.

    As someone who is a huge shareholder, I must say it's unacceptable.
     
  3. macrumors 6502

    UTclassof89

    Joined:
    Jun 10, 2008
    #3
    Have you tried diet and exercise?
    ;)
     
  4. macrumors Penryn

    rdowns

    Joined:
    Jul 11, 2003
    #4
    I own quite a bit of APPL stock and have had it almost 10 years. I voted against it. Apple's reasons make sense.

    Do other large public companies have public succession plans?



    <applause>
     
  5. macrumors G5

    ucfgrad93

    Joined:
    Aug 17, 2007
    Location:
    Colorado
    #5
    Agreed. I don't think Apple should make public their succession plans.
     
  6. macrumors G3

    QCassidy352

    Joined:
    Mar 20, 2003
    Location:
    San Francisco
    #6
    I'm a shareholder, but I trust apple on this one. I certainly don't have a better idea for a succession plan than they do.
     
  7. macrumors 65816

    FX120

    Joined:
    May 18, 2007
    #7
    I am not sure most other companies would suffer the same impact to their traded value in the event of the death of a CEO.
     
  8. macrumors G4

    Rodimus Prime

    Joined:
    Oct 9, 2006
    #8
    I know I would not want to own AALP when Jobs steps down. More so the only way Jobs is going to leave is on his death bed.
     
  9. macrumors 6502a

    Joined:
    Jun 1, 2010
    Location:
    This is the place
    #9
    keep it secret

    As another shareholder, I also hope they continue to resist pressure to reveal their plan. Apple thrives, truly, on secrecy. We all knew that going in.
     
  10. macrumors 65816

    talkingfuture

    Joined:
    Dec 4, 2008
    Location:
    The back of beyond.
    #10
    Surely if they make succession plans public then they will just be subject to endless speculation about when the succession will take place?
     
  11. thread starter macrumors 601

    Joined:
    Aug 15, 2005
    #11
    I believe if they were to reveal a bit more detail about why Jobs is taking a medical leave, then things may quiet down a bit more about a succession plan.
     
  12. macrumors member

    Joined:
    Dec 16, 2010
    #12
    It's standard HR practice to have succession plans, especially for top management positions. Such a thing is usually kept secret though, and I'd bet only Jobs himself, other senior management and the HR Director would know for certain who is penned in to succeed Jobs.

    I think as shareholders own Apple, that to me makes them amongst the biggest players in terms of strategy (IMO that's true of any company). I don't personally get this brew ha ha over Jobs potentially going though. As the formula he has laid down is working, then the next CEO/senior management people will be fools to discard it.
     
  13. macrumors 6502a

    Joined:
    Jul 17, 2007
    #13
    I am an APPL shareholder, and voted with the board. Claiming its "asking for a succession plan" is a bit of misinformation - it's asking for a public airing of who is being considered at any given moment.

    I'm not a huge fan of my company being required to launch a combination of open bidding war and rumor mill every time someone says "What about Jimmy the Greek, he could run the company..."
     
  14. macrumors demi-god

    Joined:
    Oct 14, 2005
    Location:
    Virginia Beach
    #14
    That's all I need to know.
     
  15. macrumors 6502a

    Fubar1977

    Joined:
    Jul 30, 2010
    Location:
    North Yorkshire, UK
    #15
    Apple maintains a closed door policy on everything so this would be no different.
    Lets face it, they hardly have a reputation for disclosing their plans beforehand.
    I trust them to make the right decision and they have a great acting CEO in Tim Cook.
     
  16. Moderator

    maflynn

    Staff Member

    Joined:
    May 3, 2009
    Location:
    Boston
    #16
    I think succession planning is a sound business decision and in light Jobs' health issues, its a wise move.

    Stockholders are the owners of a company and it may be worrisome for those owners to see apple be caught flat footed with a sudden departure by Jobs
     
  17. macrumors G4

    *LTD*

    Joined:
    Feb 5, 2009
    Location:
    Canada
    #17
    Wirelessly posted (Mozilla/5.0 (iPhone; U; CPU iPhone OS 4_2_1 like Mac OS X; en-us) AppleWebKit/533.17.9 (KHTML, like Gecko) Mobile/8C148)

    Uh, it's safe to assume they already have a succession plan in place and are already several steps ahead of the game. It's safe to assume Apple knows exactly what they're doing and why they're doing it. Yes, they're pretty much smarter and more prescient than anyone else. This should be obvious.

    They'll disclose when the time is right. What I'd be more worried about is whether I'll be purchasing a new iPhone or a new iPad, or both. Decisions, decisions. . .
     
  18. macrumors Penryn

    rdowns

    Joined:
    Jul 11, 2003
    #18

    The only stockholders worried are the ones with their heads up their asses. How anyone can even think that this issue wasn't taken care of by the board years ago should sell their shares and buy some nice safe dividend paying company.
     
  19. macrumors newbie

    cmabc

    Joined:
    Apr 2, 2009
    #19
    I hardly think they'll be caught flat footed as they have likely had someone ready to take over since before his liver transplant. The mortality from pancreatic cancer is 95-97%. Higher for metastatic disease. Sadly, little can be done to increase pancreatic cancer life expectancy. Treatments, if they work at all, only lengthen a patient's life by a few months. For most people with the disease, only palliative care can be provided to ease their last days. I think he may be at that point now. Too bad. He'll be missed. That said I'm not dumping my shares.
     
  20. macrumors 6502a

    Joined:
    Apr 14, 2004
    #20
    There are different types of pancreatic cancer, and they all don't share the statistics you quote above.
     
  21. macrumors G5

    gnasher729

    Joined:
    Nov 25, 2005
    #21
    There would be panic for two weeks, then the panic would be over, and everyone who bought AAPL in the middle of the panic would have made lots of money. If you bought AAPL on Jan 18th, you are up about seven percent in just three weeks.

    People buy Apple products because of their qualities. Of course there are plenty who trot out idiotic claims that 15 million people bought iPads and five times as many bought iPhones for some weird pseudo-religious reasons, but idiocy doesn't create facts.


    According to your post, Steve Jobs died several years ago.
     
  22. Moderator

    maflynn

    Staff Member

    Joined:
    May 3, 2009
    Location:
    Boston
    #22
    Well it seems apple is resistant to provding any details on this subject certainly hasn't helped the matter. Whether they have or not, is the question and if board hasn't taken care of it, the stock holders want to make sure they do.

    Just assuming they have is not good enough for many of the stock holders
     
  23. macrumors newbie

    cmabc

    Joined:
    Apr 2, 2009
    #23
    Sorry for your misunderstanding. Most people with metastatic pancreatic cancer don't get liver transplants either. In fact I'd never heard of it before and I'm in that business. I'm sure there will be those that profit from the panic when he dies as well.
     
  24. Guest

    garybUK

    Joined:
    Jun 3, 2002
    #24
    They know that by releasing such information will have a detrimental impact on the value of the company, lets face it, most of the success of Apple has been Sauron.. oops, Jobs... if they play the hand that they are replacing him, it's now a totally different company. who kows they maybe as sucessful and let their products keep them riding high or it will be their downfall... should be an interesting situation to follow. (how much impact 2 men can have on a company n.b. Jonathan Ive has been as crucial as jobs).
     
  25. macrumors G5

    gnasher729

    Joined:
    Nov 25, 2005
    #25
    In twenty years time, Steve Jobs will say: "The best decision I ever made was not asking cmabc for medical advice".
     

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