* Apple opposes shareholder proposal
* Annual meeting held on Feb. 23
SAN FRANCISCO Feb 3 Influential investor
advisory firm Institutional Shareholder Services has thrown its
weight behind a shareholder proposal to require Apple Inc
(AAPL.O) to disclose a succession plan for Chief Executive
The proposal backed by ISS, a proxy voting service, was
submitted by the Central Laborers' Pension Fund.
Last month, Apple CEO Jobs stepped away from the company on
medical leave for an undisclosed condition. Chief Operating
Officer Tim Cook is now overseeing day-to-day operations.
"ISS believes that shareholders would benefit by having a
report on the company's succession plans disclosed annually,"
ISS said, according to a release from the Laborers'
International Union of North America.
"Such a report would enable shareholders to judge the board
on its readiness and willingness to meet the demands of
succession planning based on the circumstances at that time."
An Apple spokesman was not immediately available for
Apple is recommending its shareholders vote against the
proposal at the company's annual meeting on Feb. 23.
In a regulatory filing last month, Apple said it has a
"comprehensive succession plan" but divulging such a plan would
give its rivals an unfair advantage, undermine its efforts to
recruit and retain executives, and constrain its board.
(Reporting by Gabriel Madway; Editing by Gary Hill)