Chapter 1929: 1929
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For years, Apple's chairman term has been overshadowed by jobs. In order to maintain jobs' privacy and authority, Apple's board of directors has made several adjustments to corporate governance norms in the past.
With jobs' health becoming a big issue, Apple's board has had to make tough choices about whether to return to the mainstream management model of big American companies.
In the past, Apple's board of directors has been criticized for indulging jobs for many times. But today, Andy Smith, the new director position that he didn't deal with, is undoubtedly an attempt. With Schmidt's withdrawal, Apple's board of directors will become seven members, which is really small for apple, a listed company, so no matter what Apple's board of directors does All kinds of adjustments will have an important impact on Apple shareholders and corporate culture.
Apple's board of directors came along with jobs's secret keeping culture. It has never put forward a major measure to check and balance jobs' power before. With this unique arrangement, it has indeed worked. Under the leadership of jobs, Apple has developed a series of innovative products with great imagination, which are also called good in the market.
However, during Jobs's sick leave, Apple's board of directors once left investors at a loss. Not only did they never disclose the specific reasons for jobs's sick leave, but even the directors themselves were concealed by jobs. For this reason, they have retired. Jim York, who asked Andy to replace his board of directors, protested by resignation.
Another is that many members of Apple's board of directors have a close personal relationship with jobs, who promoted them first-hand, so that jobs can firmly control Apple's board of directors, which rarely challenges his authority. Apple's board of directors has not set up a chairman for many years.
The small size, close personal relationship between members and jobs, and the vacancy of chairman of the board made the board unable to compete with jobs at all.
"In fact, our investors have been uneasy about the company's confidentiality habits for a long time. There's nothing wrong with confidentiality of business secrets, but there seems to be no need for confidentiality for all investors to care about Steve's physical condition, right?"
After the board of directors passed Andy Smith's decision to take over the position of Schmidt's compensation committee, Andy looked at jobs, whose face was becoming more and more ugly, with a light smile.
"I'm in good health, just a little trouble. Now it's OK. Besides, it's my personal privacy. I don't need to tell everyone. As for investors, they don't need to know, because they have made a lot of money. The only thing they should do is to trust me and then shut up!" Jobs mouth up, thin face, a pair of eyes in the deep socket of his eyes and Andy, said with a sneer.
"Ha ha, this is not what a CEO of a listed company with a market value of 100 billion US dollars should say. As a listed company, investors have the right to know the real situation. According to the information I have received, many shareholders have started to unite to propose a resolution at the annual meeting next year, asking apple to publicly respond to your health condition, and to draft And open written succession plans.
What's more ridiculous is that even our board members don't know the real situation of your body. I think Apple needs an external chairman to come to the board and find a new way to show leadership and supervision. "
At the beginning of Andy's tit for tat speech, all the people in the conference room looked at their noses, noses and hearts, quietly watching the two people tear, but when Andy mentioned the chairman of the board, all the people raised their heads, their eyes twinkled, and began to be a little restless.
"Impossible! Mr. Smith, please pay attention to your terms of reference. It's not something you can decide! " At this time, jobs has reached the critical point of anger, his eyes are full of anger, his face is gloomy and he stares at Andy, almost speaking to Andy with a little roar.
"I'm sorry, maybe it's my tone. I'm just making suggestions. After all, this is the power given to me by the board of directors. The post of chairman has been suspended for many years. It seems that the chairman of Apple needs to go back to the 1990s, right?" Andy saw jobs with a quick eye and a sneer in his heart. He still looked around the meeting room with a smile on his face and asked helplessly with a shrug.
"Chairman's question, I think it's better to keep the status quo..."
"Yes, at present, Apple has entered a period of high-speed development. It's most important to maintain stability. The external chairman will inevitably cause some problems..."
"I don't agree with the proposal of the external chairman, but the opinions of investors have to be taken seriously."
"Yes, I've heard that some shareholders are already very full. The more successful apple is, the more concerned those shareholders are about Apple's future development plan. Once we put forward proposals at the shareholders' meeting and get the overwhelming support from the shareholders' meeting, we will inevitably be passive."
When he heard the opposition, jobs's gloomy face became more beautiful. Andy didn't get upset because of the opposition at all. He still smiled quietly. That's what he expected. He didn't really want to find a chairman to come back and share power. Although the chairman can restrain jobs, he doesn't want apple He didn't want to let apple fall into infighting, which led to the market and the stock price falling. At that time, he couldn't cry.The chairman's proposal is a bit unreliable indeed. No one here will agree with it. However, this is just a series of foreshadowing for Andy. For the sake of the final goal, although it can't make too big changes for apple, some small changes that can make jobs feel uncomfortable still need to be made.
"In fact, there are many ways to reassure investors and shareholders and shut up."
"Oh, Andy, what's the best way for you to do it?"
"Yes, tell me about it."
。。。。。。
Jobs, who had already laid down his mind, once again frowned and looked at Andy Smith, who was smiling. His eyes were sharp, and he said coldly, "Mr. Smith, what's your suggestion?"
"In fact, it's nothing. The system of proxy participation right can stipulate that shareholders holding more than 3% shares for three consecutive years can directly nominate a member of the board of directors. However, no matter how many shareholders with more than 3% of shares nominate directors, only one person can enter the board of directors at most.
I believe that shareholders, investors, with the channels to exert influence on the company's development strategy, they should be able to be satisfied. In addition, among the S & P 500 index companies, more than 50 enterprises such as Microsoft and Coca Cola have implemented the "proxy participation right system", which has little impact on the board of directors of our apple company, and can also get rid of the criticism voice that has been criticized by the outside world for its exclusive right and Du judgment! "
Andy's remark is a bit of a slur, but when his idea came out, including Jobs himself, they all thought about it, and the other directors were talking to each other.
All of us here are old foxes and management elites. Naturally, we know what the proxy participation right system is, and it's really the best tool to appease shareholders and investors. The key is that Andy put forward the restriction that only one person can enter the board of directors for shareholders holding more than 3% of shares in those three years and no matter how many such shareholder nominations are made. It's no doubt that we moved everyone present 。
"I agree that this proposal is feasible and can comfort shareholders and investors to the greatest extent, so as not to let them question the opacity of our board of directors all the time."
"There is no problem in setting this threshold. Sure enough, Andy, you have brought us different ideas and perspectives."
"I agree, too."
At this time, jobs and cook were whispering and discussing. We have to say that the threshold raised by Andy is already very high, because according to the current stock price of apple, 3% of the shares needs more than 3 billion dollars. Moreover, there is a condition that no matter how many shareholders meet this condition, at most one board member can be generated. Moreover, Apple's board of directors is composed of eight people. Even if the director nominated by the shareholder enters the board successfully, in the case of 1:7, the proposal is easily rejected by the other directors, because the remaining seven directors, including Andy Smith, he will wear a pair of pants with jobs. This is the problem that PG decides his head.
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For years, Apple's chairman term has been overshadowed by jobs. In order to maintain jobs' privacy and authority, Apple's board of directors has made several adjustments to corporate governance norms in the past.
With jobs' health becoming a big issue, Apple's board has had to make tough choices about whether to return to the mainstream management model of big American companies.
In the past, Apple's board of directors has been criticized for indulging jobs for many times. But today, Andy Smith, the new director position that he didn't deal with, is undoubtedly an attempt. With Schmidt's withdrawal, Apple's board of directors will become seven members, which is really small for apple, a listed company, so no matter what Apple's board of directors does All kinds of adjustments will have an important impact on Apple shareholders and corporate culture.
Apple's board of directors came along with jobs's secret keeping culture. It has never put forward a major measure to check and balance jobs' power before. With this unique arrangement, it has indeed worked. Under the leadership of jobs, Apple has developed a series of innovative products with great imagination, which are also called good in the market.
However, during Jobs's sick leave, Apple's board of directors once left investors at a loss. Not only did they never disclose the specific reasons for jobs's sick leave, but even the directors themselves were concealed by jobs. For this reason, they have retired. Jim York, who asked Andy to replace his board of directors, protested by resignation.
Another is that many members of Apple's board of directors have a close personal relationship with jobs, who promoted them first-hand, so that jobs can firmly control Apple's board of directors, which rarely challenges his authority. Apple's board of directors has not set up a chairman for many years.
The small size, close personal relationship between members and jobs, and the vacancy of chairman of the board made the board unable to compete with jobs at all.
"In fact, our investors have been uneasy about the company's confidentiality habits for a long time. There's nothing wrong with confidentiality of business secrets, but there seems to be no need for confidentiality for all investors to care about Steve's physical condition, right?"
After the board of directors passed Andy Smith's decision to take over the position of Schmidt's compensation committee, Andy looked at jobs, whose face was becoming more and more ugly, with a light smile.
"I'm in good health, just a little trouble. Now it's OK. Besides, it's my personal privacy. I don't need to tell everyone. As for investors, they don't need to know, because they have made a lot of money. The only thing they should do is to trust me and then shut up!" Jobs mouth up, thin face, a pair of eyes in the deep socket of his eyes and Andy, said with a sneer.
"Ha ha, this is not what a CEO of a listed company with a market value of 100 billion US dollars should say. As a listed company, investors have the right to know the real situation. According to the information I have received, many shareholders have started to unite to propose a resolution at the annual meeting next year, asking apple to publicly respond to your health condition, and to draft And open written succession plans.
What's more ridiculous is that even our board members don't know the real situation of your body. I think Apple needs an external chairman to come to the board and find a new way to show leadership and supervision. "
At the beginning of Andy's tit for tat speech, all the people in the conference room looked at their noses, noses and hearts, quietly watching the two people tear, but when Andy mentioned the chairman of the board, all the people raised their heads, their eyes twinkled, and began to be a little restless.
"Impossible! Mr. Smith, please pay attention to your terms of reference. It's not something you can decide! " At this time, jobs has reached the critical point of anger, his eyes are full of anger, his face is gloomy and he stares at Andy, almost speaking to Andy with a little roar.
"I'm sorry, maybe it's my tone. I'm just making suggestions. After all, this is the power given to me by the board of directors. The post of chairman has been suspended for many years. It seems that the chairman of Apple needs to go back to the 1990s, right?" Andy saw jobs with a quick eye and a sneer in his heart. He still looked around the meeting room with a smile on his face and asked helplessly with a shrug.
"Chairman's question, I think it's better to keep the status quo..."
"Yes, at present, Apple has entered a period of high-speed development. It's most important to maintain stability. The external chairman will inevitably cause some problems..."
"I don't agree with the proposal of the external chairman, but the opinions of investors have to be taken seriously."
"Yes, I've heard that some shareholders are already very full. The more successful apple is, the more concerned those shareholders are about Apple's future development plan. Once we put forward proposals at the shareholders' meeting and get the overwhelming support from the shareholders' meeting, we will inevitably be passive."
When he heard the opposition, jobs's gloomy face became more beautiful. Andy didn't get upset because of the opposition at all. He still smiled quietly. That's what he expected. He didn't really want to find a chairman to come back and share power. Although the chairman can restrain jobs, he doesn't want apple He didn't want to let apple fall into infighting, which led to the market and the stock price falling. At that time, he couldn't cry.The chairman's proposal is a bit unreliable indeed. No one here will agree with it. However, this is just a series of foreshadowing for Andy. For the sake of the final goal, although it can't make too big changes for apple, some small changes that can make jobs feel uncomfortable still need to be made.
"In fact, there are many ways to reassure investors and shareholders and shut up."
"Oh, Andy, what's the best way for you to do it?"
"Yes, tell me about it."
。。。。。。
Jobs, who had already laid down his mind, once again frowned and looked at Andy Smith, who was smiling. His eyes were sharp, and he said coldly, "Mr. Smith, what's your suggestion?"
"In fact, it's nothing. The system of proxy participation right can stipulate that shareholders holding more than 3% shares for three consecutive years can directly nominate a member of the board of directors. However, no matter how many shareholders with more than 3% of shares nominate directors, only one person can enter the board of directors at most.
I believe that shareholders, investors, with the channels to exert influence on the company's development strategy, they should be able to be satisfied. In addition, among the S & P 500 index companies, more than 50 enterprises such as Microsoft and Coca Cola have implemented the "proxy participation right system", which has little impact on the board of directors of our apple company, and can also get rid of the criticism voice that has been criticized by the outside world for its exclusive right and Du judgment! "
Andy's remark is a bit of a slur, but when his idea came out, including Jobs himself, they all thought about it, and the other directors were talking to each other.
All of us here are old foxes and management elites. Naturally, we know what the proxy participation right system is, and it's really the best tool to appease shareholders and investors. The key is that Andy put forward the restriction that only one person can enter the board of directors for shareholders holding more than 3% of shares in those three years and no matter how many such shareholder nominations are made. It's no doubt that we moved everyone present 。
"I agree that this proposal is feasible and can comfort shareholders and investors to the greatest extent, so as not to let them question the opacity of our board of directors all the time."
"There is no problem in setting this threshold. Sure enough, Andy, you have brought us different ideas and perspectives."
"I agree, too."
At this time, jobs and cook were whispering and discussing. We have to say that the threshold raised by Andy is already very high, because according to the current stock price of apple, 3% of the shares needs more than 3 billion dollars. Moreover, there is a condition that no matter how many shareholders meet this condition, at most one board member can be generated. Moreover, Apple's board of directors is composed of eight people. Even if the director nominated by the shareholder enters the board successfully, in the case of 1:7, the proposal is easily rejected by the other directors, because the remaining seven directors, including Andy Smith, he will wear a pair of pants with jobs. This is the problem that PG decides his head.
For years, Apple's chairman term has been overshadowed by jobs. In order to maintain jobs' privacy and authority, Apple's board of directors has made several adjustments to corporate governance norms in the past. With jobs' health becoming a big issue, Apple's board has had to make tough choices about whether to return to the mainstream management model of big American companies. In the past, Apple's board of directors has been criticized for indulging jobs for many times. But today, Andy Smith, the new director position that he didn't deal with, is undoubtedly an attempt. With Schmidt's withdrawal, Apple's board of directors will become seven members, which is really small for apple, a listed company, so no matter what Apple's board of directors does All kinds of adjustments will have an important impact on Apple shareholders and corporate culture. Apple's board of directors came along with jobs's secret keeping culture. It has never put forward a major measure to check and balance jobs' power before. With this unique arrangement, it has indeed worked. Under the leadership of jobs, Apple has developed a series of innovative products with great imagination, which are also called good in the market. However, during Jobs's sick leave, Apple's board of directors once left investors at a loss. Not only did they never disclose the specific reasons for jobs's sick leave, but even the directors themselves were concealed by jobs. For this reason, they have retired. Jim York, who asked Andy to replace his board of directors, protested by resignation. Another is that many members of Apple's board of directors have a close personal relationship with jobs, who promoted them first-hand, so that jobs can firmly control Apple's board of directors, which rarely challenges his authority. Apple's board of directors has not set up a chairman for many years. The small size, close personal relationship between members and jobs, and the vacancy of chairman of the board made the board unable to compete with jobs at all. "In fact, our investors have been uneasy about the company's confidentiality habits for a long time. There's nothing wrong with confidentiality of business secrets, but there seems to be no need for confidentiality for all investors to care about Steve's physical condition, right?" After the board of directors passed Andy Smith's decision to take over the position of Schmidt's compensation committee, Andy looked at jobs, whose face was becoming more and more ugly, with a light smile. "I'm in good health, just a little trouble. Now it's OK. Besides, it's my personal privacy. I don't need to tell everyone. As for investors, they don't need to know, because they have made a lot of money. The only thing they should do is to trust me and then shut up!" Jobs mouth up, thin face, a pair of eyes in the deep socket of his eyes and Andy, said with a sneer. "Ha ha, this is not what a CEO of a listed company with a market value of 100 billion US dollars should say. As a listed company, investors have the right to know the real situation. According to the information I have received, many shareholders have started to unite to propose a resolution at the annual meeting next year, asking apple to publicly respond to your health condition, and to draft And open written succession plans. What's more ridiculous is that even our board members don't know the real situation of your body. I think Apple needs an external chairman to come to the board and find a new way to show leadership and supervision. " At the beginning of Andy's tit for tat speech, all the people in the conference room looked at their noses, noses and hearts, quietly watching the two people tear, but when Andy mentioned the chairman of the board, all the people raised their heads, their eyes twinkled, and began to be a little restless. "Impossible! Mr. Smith, please pay attention to your terms of reference. It's not something you can decide! " At this time, jobs has reached the critical point of anger, his eyes are full of anger, his face is gloomy and he stares at Andy, almost speaking to Andy with a little roar. "I'm sorry, maybe it's my tone. I'm just making suggestions. After all, this is the power given to me by the board of directors. The post of chairman has been suspended for many years. It seems that the chairman of Apple needs to go back to the 1990s, right?" Andy saw jobs with a quick eye and a sneer in his heart. He still looked around the meeting room with a smile on his face and asked helplessly with a shrug. "Chairman's question, I think it's better to keep the status quo..." "Yes, at present, Apple has entered a period of high-speed development. It's most important to maintain stability. The external chairman will inevitably cause some problems..." "I don't agree with the proposal of the external chairman, but the opinions of investors have to be taken seriously." "Yes, I've heard that some shareholders are already very full. The more successful apple is, the more concerned those shareholders are about Apple's future development plan. Once we put forward proposals at the shareholders' meeting and get the overwhelming support from the shareholders' meeting, we will inevitably be passive." When he heard the opposition, jobs's gloomy face became more beautiful. Andy didn't get upset because of the opposition at all. He still smiled quietly. That's what he expected. He didn't really want to find a chairman to come back and share power. Although the chairman can restrain jobs, he doesn't want apple He didn't want to let apple fall into infighting, which led to the market and the stock price falling. At that time, he couldn't cry.The chairman's proposal is a bit unreliable indeed. No one here will agree with it. However, this is just a series of foreshadowing for Andy. For the sake of the final goal, although it can't make too big changes for apple, some small changes that can make jobs feel uncomfortable still need to be made. "In fact, there are many ways to reassure investors and shareholders and shut up." "Oh, Andy, what's the best way for you to do it?" "Yes, tell me about it." Jobs, who had already laid down his mind, once again frowned and looked at Andy Smith, who was smiling. His eyes were sharp, and he said coldly, "Mr. Smith, what's your suggestion?" "In fact, it's nothing. The system of proxy participation right can stipulate that shareholders holding more than 3% shares for three consecutive years can directly nominate a member of the board of directors. However, no matter how many shareholders with more than 3% of shares nominate directors, only one person can enter the board of directors at most. I believe that shareholders, investors, with the channels to exert influence on the company's development strategy, they should be able to be satisfied. In addition, among the S & P 500 index companies, more than 50 enterprises such as Microsoft and Coca Cola have implemented the "proxy participation right system", which has little impact on the board of directors of our apple company, and can also get rid of the criticism voice that has been criticized by the outside world for its exclusive right and Du judgment! " Andy's remark is a bit of a slur, but when his idea came out, including Jobs himself, they all thought about it, and the other directors were talking to each other. All of us here are old foxes and management elites. Naturally, we know what the proxy participation right system is, and it's really the best tool to appease shareholders and investors. The key is that Andy put forward the restriction that only one person can enter the board of directors for shareholders holding more than 3% of shares in those three years and no matter how many such shareholder nominations are made. It's no doubt that we moved everyone present "I agree that this proposal is feasible and can comfort shareholders and investors to the greatest extent, so as not to let them question the opacity of our board of directors all the time." "There is no problem in setting this threshold. Sure enough, Andy, you have brought us different ideas and perspectives." "I agree, too." At this time, jobs and cook were whispering and discussing. We have to say that the threshold raised by Andy is already very high, because according to the current stock price of apple, 3% of the shares needs more than 3 billion dollars. Moreover, there is a condition that no matter how many shareholders meet this condition, at most one board member can be generated. Moreover, Apple's board of directors is composed of eight people. Even if the director nominated by the shareholder enters the board successfully, in the case of 1:7, the proposal is easily rejected by the other directors, because the remaining seven directors, including Andy Smith, he will wear a pair of pants with jobs. This is the problem that PG decides his head.
