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Apple stock owners give CEO Jobs a slicing

San Jose Mercury News - May 11, 2007

Apple had a chance Thursday at its annual shareholder meeting to quell the recent furor over its options backdating. But if what happened at the meeting and the reaction of some investors are any indication, the discord hasn't gone away.

At the meeting in Cupertino Thursday, Apple shareholders asked pointed questions about the company's backdating controversy, drawing Chief Executive Steve Jobs into sometimes-testy exchanges. Fueling more criticism, Jobs refused to allow Apple's board members to answer investor questions, saying the directors were attending as "guests."

And, in a symbolic rebuke to management, shareholders appeared to have voted in unusually large numbers for four investor proposals that sought to rein in executive pay at the corporation, including one that asked the board to bar stock options backdating in the future.

Read Full Article from San Jose Mercury News

- Posted: 2007-05-11 10:08:50


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