14 DAY TRIAL // Amid news of CEO Steve Jobs taking a medical leave of absence - the second one in two years - LIUNA (the Laborers’ International Union of North America) has released a statement urging Apple shareholders to vote for its proposal requiring a CEO succession plan at the company’s February 23 shareholders’ meeting.
Whereas the medical leave Apple’s CEO took in 2008 was for a determined period of time, this time the leave is indefinite.
On Monday, January 17, Steve Jobs sent an email to all Apple employees notifying them that the company’s board of directors had granted him a medical leave of absence, to deal with some health problems.
The CEO specifically asked to be granted some privacy, not only for himself, but for his family as well.
Responding to news that Apple CEO Steve Jobs would be taking an indefinite medical leave of absence from the company, the Laborers’ International Union of North America (LIUNA) released the following statement this week:
We’re concerned to hear the news about Steve Jobs’ health and hope to see him return to full duties soon.
However, this news demonstrates the need for Apple to do well by its shareholders, including our members’ pension funds, and adopt a proposal made by LIUNA that would require a defined succession plan in the event Jobs can no longer continue to serve as CEO.
LIUNA has raised the issue of CEO succession with other companies and in many cases our proposals have been adopted by shareholders.
We believe Apple has misconstrued our proposal – we do not expect them to provide specific names of future executives, but merely demonstrate they have a plan in place for naming one.
This proposal would not only benefit our members’ retirement savings, but also would give reassurance to other Apple shareholders and help the company.
We urge Apple shareholders to vote for our proposal at the February 23 shareholders’ meeting.