At Apple’s virtual shareholder meeting today, investors approved some of the usual agenda items like the executive compensation plan and reelecting the board. However, the meeting also brought a unique scenario with shareholders voting against Apple’s wishes.
Reported by Bloomberg, Apple’s board had opposed the measure for third-party civil rights audits. Proponents of the proposal believe it would be helpful to see if and how the company contributes to inequality. But Apple said “it already meets the objectives of the proposal. That includes conducting impact assessments and engaging with communities.”
Further, Apple claimed that the audit proposal was “broad and unfocused.” CEO Tim Cook talked about the issue at the shareholder meeting saying “Civil rights is something we care deeply about and always have.”
However, in contrast to Apple’s recommendation to oppose the measure, shareholders voted to approve the proposal for third-party civil rights audits with some believing it will offer a more honest look at how Apple is doing with “equality and fairness.”
Update 1:45 pm PT: SEC documents via CNBC’s Kif Leswing have revealed the vote to approve the third-party audits was 5.1 million for and 4.4 million against.
“Now it’s time for Apple to establish an honest third-party civil rights audit of the company’s commitments to equality and fairness,” Dieter Waizenegger, executive director of the labor-backed firm SOC Investment Group, said in a statement after the meeting.
In related news, Apple announced this morning that corporate employees will head back to in-person work next month with the plan leading to a hybrid remote setup.
SEC filing reveals vote total:
For: 5,125,278,012Against: 4,445,469,491Broker non-vote: 3,360,214,513Abstained: 131,246,493https://t.co/aDUXRtXD3u https://t.co/hp5ZJYhNOq
— kif (@kifleswing) March 4, 2022
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