The furore came from the Central Laborers Pension Fund, following an announcement in January that the chief executive was to take medical leave from the company due to health.
At the time he said he would continue as chief exec and keep his foot in any major decisions. However, the day to day running of the company would be handed to his trusted aide Tim Cook, COO.
This didn’t settle the Central Laborers’ Pension Fund, which went on to demand that Apple put together a succession planning policy, which should outline a list of things required for a new CEO position, as well as certain people who were being considered for the job. They also wanted to be given an annual report.
Apple’s pro players used the excuse that by giving out this kind of information it was putting the company at risk from competitors, however this wasn’t enough to appease the Laborers’ International Union, which told the WSJ that Apple has a responsibility to be up-front with shareholders. It added that other institutional investors had sided with the group but others had remained faithful to the company.
The meeting is before Apple is expected to announce updates to its MacBook Pro line.