Apple holders vote down proposal to disclose ideology of director nominees

Apple holders vote down proposal to disclose ideology of director nominees

Apple Inc shareholders on Friday defeated a shareholder proposal from a conservative group that would have required the company to disclose the "ideological perspective" of nominees for its board of directors.

FILE PHOTO: An Apple company logo is seen behind tree branches outside an Apple store in Beijing
FILE PHOTO: An Apple company logo is seen behind tree branches outside an Apple store in Beijing, China December 14, 2018. REUTERS/Jason Lee/File Photo

REUTERS: Apple Inc shareholders on Friday defeated a shareholder proposal from a conservative group that would have required the company to disclose the "ideological perspective" of nominees for its board of directors.

The proposal, placed on the shareholder ballot by the National Centre for Public Policy Research, received only 1.7 percent of votes at the iPhone maker's annual meeting in Cupertino, Calif.

The organization describes itself as a communications and research foundation supporting strong national defence and free market solutions.

Arguments were made both in favour of the proposal and against it in the Steve Jobs Theatre, where the meeting is being held. Shareholder advisory firms Glass Lewis and Institutional Shareholder Services both recommended shareholders vote against it.

(Reporting by Stephen Nellis; Editing by Bill Rigby)

Source: Reuters

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