Apple CEO expected at annual meeting; shareholders to cast advisory vote on executive pay

Thursday, February 25, 2010

Ahead of the Bell: Apple holds shareholder meeting

CUPERTINO, Calif. — Apple Inc. is meeting with shareholders at its annual meeting at company headquarters Thursday — and this year CEO Steve Jobs will likely be on hand to take questions from stockholders.

Jobs was absent from last year’s meeting due to a medical leave.

Apple weathered the economic downturn better than most consumer electronics companies. In 2009, Apple’s stock more than doubled to close above $200, where it still hovers. Jobs, a pancreatic cancer survivor, took off nearly six months, during which time he had a liver transplant. He returned to work at the end of June.

During the year, the Cupertino, Calif. company launched a faster version of the popular iPhone smartphone; updated its Macintosh computer operating system and the iTunes media organization program; and launched a tiny new iPod Nano with a video camera built in.

At the annual meeting, Apple shareholders will for the first time have a chance to cast an advisory vote on the company’s executive compensation plans.

Shareholders will also vote on two proposals submitted by their peers. One calls for a detailed environmental sustainability report, and the other for a board committee devoted to that issue, both of which Apple opposes.

Apple’s stock closed at $200.66 Wednesday.

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