Shareholder Meeting February 23rd

  • Posted: 19 February 2011 08:53 AM

    Does anyone think there will be any surprises or negatives, for that matter, coming out of the meeting this week (Feb. 23)?  Does SJ ever make an appearance?  Will someone push for answers on succession plans?  Thoughts?

    Signature

    Keep Calm and Carry On

         
  • Avatar

    Posted: 19 February 2011 09:03 AM #1

    Thanks for reminding me . . . now where are those proxy papers?

    Signature

    Bought and Held

         
  • Avatar

    Posted: 19 February 2011 12:37 PM #2

    Will SJ make an appearance? It would be weird if he didn’t given the fact that he just attended a dinner with Obama

         
  • Avatar

    Posted: 19 February 2011 05:07 PM #3

    He still is technically on medical leave, so I wouldn’t count on him showing up.  Shareholder’s meetings are great for lively back-and-forth banter, but it’s also stressful stuff.  Not something a guy on medical leave really needs.

    Maybe they can FaceTime him in for a little bit? wink

    Signature

    The Summer of AAPL is here.  Enjoy it (responsibly) while it lasts.
    AFB Night Owl Team™
    Thanks, Steve.

         
  • Posted: 20 February 2011 07:29 AM #4

    He’s not on leave from his role as CEO.  Unlike his last leave he has kept this position.  He is obligated as CEO to actively participate in the annual shareholders meeting.  If not, he will be derelict in his duties.

    There is a pending contentious issue about succession.  If he fails to show it will be like throwing gasoline on a fire.  If he fails to show I expect his full resignation to be announced.  I also expect in this event there would be something else announced to offset this set-back.  A stock split, a major share buy back or a dividend all come to mind.

    I expect he will be there and I expect his appearance will raise a lot of issues.

         
  • Posted: 20 February 2011 08:31 AM #5

    ncgo4 - 20 February 2011 11:29 AM

    He’s not on leave from his role as CEO.

    But he is on extended medical leave. What is the point of making a statement that you are on extended leave and then turn up and do the jobs you said you were on leave from?

    Signature

    .

         
  • Posted: 20 February 2011 10:18 AM #6

    Last time he took leave from all positions including CEO.  This time he specifically retained that position and publicly acknowledged that as part of it he would continue to be involved in all strategic decisions.  This was a marked difference in the two medical leaves and the difference was widely commented on at the time.  It was thought to be an indication that this leave was less serious.  If he now fails to show for the shareholders’ meeting this will indicate a major setback, IMHO and will set off a succession fire storm.  A fight that many institutional shareholders are dying to have anyway.

         
  • Posted: 20 February 2011 10:31 AM #7

    ncgo4 - 20 February 2011 02:18 PM

    Last time he took leave from all positions including CEO.  This time he specifically retained that position and publicly acknowledged that as part of it he would continue to be involved in all strategic decisions.  This was a marked difference in the two medical leaves and the difference was widely commented on at the time.  It was thought to be an indication that this leave was less serious.  If he now fails to show for the shareholders’ meeting this will indicate a major setback, IMHO and will set off a succession fire storm.  A fight that many institutional shareholders are dying to have anyway.

    We did this in another thread… Apple have a succession plan. That’s all we need to know. What is the point of making the details public and paint head hunting targets of the person / people who are in place?

    Signature

    .

         
  • Posted: 20 February 2011 10:46 AM #8

    I wasn’t making the case for a public succession plan.  Personally, I believe it would be a competitive mistake.  The comment was about what we might expect from the annual meeting.  The AAPL market is poised in a rather unstable place right now, IMHO.  It could consolidate with some, maybe even significant down side or it could begin to rise toward it’s justifiable level.  I think what is seen, said and done in the shareholder’s meeting could have a big effect on these moves. 

    Steve Jobs failure to appear, how he looks if he does appear and new directions (if any) of the board with regard to splits, dividends, etc. will all combine to significantly impact the short term direction of AAPL pricing.  I also believe these items may be interdependent.

         
  • Avatar

    Posted: 20 February 2011 01:47 PM #9

    Well said. 

    Question remains - will/should Steve show up?

         
  • Avatar

    Posted: 20 February 2011 01:55 PM #10

    Whatever is best for Steve’s health is the lead.

    The Apple management will show up in force.

    Steve will show up if he has something to say.  It will be a last minute decision and be a bonus, not a requirement, for a successful meeting.

         
  • Avatar

    Posted: 20 February 2011 03:42 PM #11

    Correction.  Steve remained CEO in 2009, although the word on the street (and known facts) indicate he was in possibly much worse condition than now, and certain realities meant he was on vacation from the CEO position for a while.

    Steve in 2009:

    Team,

    I am sure all of you saw my letter last week sharing something very personal with the Apple community. Unfortunately, the curiosity over my personal health continues to be a distraction not only for me and my family, but everyone else at Apple as well. In addition, during the past week I have learned that my health-related issues are more complex than I originally thought.

    In order to take myself out of the limelight and focus on my health, and to allow everyone at Apple to focus on delivering extraordinary products, I have decided to take a medical leave of absence until the end of June.

    I have asked Tim Cook to be responsible for Apple?s day to day operations, and I know he and the rest of the executive management team will do a great job. As CEO, I plan to remain involved in major strategic decisions while I am out. Our board of directors fully supports this plan.

    I look forward to seeing all of you this summer.

    Steve

    [ Edited: 20 February 2011 03:45 PM by Mav ]

    Signature

    The Summer of AAPL is here.  Enjoy it (responsibly) while it lasts.
    AFB Night Owl Team™
    Thanks, Steve.

         
  • Avatar

    Posted: 20 February 2011 06:40 PM #12

    For the sake of comparison, here is the 1/17/2011 medical leave email:

    Team,

    At my request, the board of directors has granted me a medical leave of absence so I can focus on my health. I will continue as CEO and be involved in major strategic decisions for the company.

    I have asked Tim Cook to be responsible for all of Apple?s day to day operations. I have great confidence that Tim and the rest of the executive management team will do a terrific job executing the exciting plans we have in place for 2011.

    I love Apple so much and hope to be back as soon as I can. In the meantime, my family and I would deeply appreciate respect for our privacy.

    Steve

    Signature

    The only way to be truly satisfied is to do what you believe is great work. And the only way to do great work is to love what you do. — Steve Jobs

         
  • Avatar

    Posted: 23 February 2011 03:54 PM #13

    So we’ve had this debate on AFB from time to time about succession plans. There was the “biggest Apple risks” thread where Steve’s health was deemed the biggest risk to AAPL the stock, if not Apple the company. Then there was the sell-off before earnings on Steve’s leave. Then the sensationalist Enquirer stories followed by a photo op with Obama. Plus, a bunch of people raising this question in other threads from time to time.

    While the debate will undoubtedly continue, at least for now we can perhaps agree that the shareholders have spoken: the majority do not want a detailed/public succession plan. (I count myself among the ones who think it would be a competitive disadvantage and admission of defeat to sensationalist pressure to make any succession plans public).

    And of course, great health and long years to Steve. He turns 56 tomorrow.

         
  • Posted: 23 February 2011 04:41 PM #14

    Does anyone else get the feeling that WS and investors in general are getting more comfortable with SJ operating in the back ground?  Or, maybe its is just my perception..

         
  • Avatar

    Posted: 23 February 2011 04:58 PM #15

    yes.

    and people are waiting for Libya revolution to succeed and calm down.