Cali pension fund wants Apple to allow majority board voting
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Feb 5, 2012 9:50 pm
California's public sector retirement system, Calpers, is hoping to push Apple to give it and other shareholders more control over the company's board of directors. The organization told the FT [reg. required] that it wanted a "governance upgrade" where board members are elected or rejected directly based on majority votes. At present, votes can't actively oppose a member, and only one vote is needed in favor to keep a board member in place if no one is contesting the seat....
