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Apple shareholders approve 40% pay cut for CEO Tim Cook at annual meeting


Tim Cook in Ukrainian colors during the Peek Performance event
Even Tim Cook agrees Tim Cook was being paid too much.
Screenshot: Apple

Apple CEO Tim Cook will earn considerably less in 2023 than he did in the last two years. The pay cut comes at the recommendation of the company as well as Cook himself. And it was approved Friday at Apple’s annual shareholder’s meeting.

In addition, five proposals made by shareholders for changes at the company were also voted down at the meeting.

4 takeaways from Apple’s 2022 shareholders meeting


4 takeaways from Apple’s 2022 shareholders meeting
If you’re an Apple shareholder, you should have received one of these in the mail.
Photo: Ed Hardy/Cult of Mac

Apple CEO Tim Cook had a meeting today with his many bosses: Apple shareholders. He answered questions about dividends, COVID-19 and more.

And a vote at the Apple 2022 shareholders meeting requires the Board of Directors to carry out an audit of the company’s civil rights policies. But several other proposals were voted down.

Shareholders approve civil rights audit of Apple policies


Shareholders approve civil rights audit of Apple policies
The proposal for the civil rights audit pointed out that Apple’s executive team is mostly white men.
Image: Apple/Cult of Mac

Apple shareholders voted Friday to require an audit looking into whether the company’s policies have a negative impact on the civil rights of its employees and customers.

Apple’s Board of Directors opposed the idea, claiming the company is already committed to respecting civil rights.

Apple ‘rolling the dice’ on its upcoming products


Tim Cook takes home $125 million for Apple’s best year since 2009
Tim Cook said today he’s “never been more optimistic” about the direction Apple is going.
Photo: Jim Merithew/Cult of Mac

Apple CEO Tim Cook is very upbeat about where his company is going. He told investors today that upcoming Apple products will “blow you away.”

Cook also indicated that Apple’s magic pipeline isn’t just brining more of the same. Cupertino is branching out.

Shareholders easily vote down attempt to make Apple more conservative


steve jobs theater
A proposal made to Apple shareholders today in the Steve Jobs Theater would require board members reveal their “ideological perspective.”
Photo: Apple

A handful of Apple shareholders argued today that the company’s board of directors needs more conservative voices.

CEO Tim Cook responded that Apple has policies, not political beliefs. And a vote on the conservative proposal found very little support.

Apple shares gain $55 billion after glowing quarterly report


Apple share price increased more than a dollar or two following a very strong quarterly earnings report.
Photo: Ste Smith/Cult of Mac

Investors rushed to buy Apple stock today, pushing the share price up almost 6 percent. That added a whopping $55 billion to the company’s market capitalization.

Apple is still a bit short of the much-hyped $1 trillion valuation, but moved noticeably closer today.

Apple Speaks Out: We Might Return Cash To Shareholders


Screen Shot 2013-02-07 at 4.14.59 PM

Apple has been treading lightly with Wall Street in recent months. The company’s stock has continued to nosedive despite reporting record earnings for the last quarter. Many investors have been urging Apple to do something with its $137 billion cash hoard. Shareholders want a return on their investments.

Greenlight Capital, a prominent and influential Apple investor, has called Apple out for its proposal to eliminate preferred stock. Apple started paying a quarterly dividend of $2.65 per share last year, but investors want something more substantial. Greenlight Capital’s David Einhorn believes that “preferred shares would be a way to reward investors without putting the company at risk.”

Apple has officially responded with a press release:

Apple Shareholders Vote Down Calls To Reveal Steve Jobs Succession Plan


Steve Jobs at Macworld in 2007. CC-licensed photo by Noboyuki Hayashi.
Steve Jobs at Macworld in 2007. CC-licensed photo

Apple shareholders have voted down a proposal that would have required Apple to disclose Steve Jobs’ succession plan.

The vote came at Apple’s annual meeting today. The proposal was brought by the Laborers’ International Union. Apple’s board also opposed.

Apple has said in the past that it has executive succession plan, though it hasn’t revealed what that plan is.

Steve Jobs wasn’t present at today’s meeting. He continues his indefinite medical leave. This is only the second time in a decade he has missed the annual event.

All Things D: Apple Shareholders Reject Proposal to Disclose Succession Plan