Tech giant Apple is facing pressure from a proxy advisory firm to start disclosing succession plans given chief executive Steve Job’s latest leave of absence.
In a statement, Institutional Shareholder Services has said that every company needs to have a succession plan and Apple’s investors will benefit from that knowledge.
“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,” ISS said in the report, according to the Wall Street Journal.
Apple has previously refused to discuss succession plans, and during a recent analyst call the company fielded no questions about the matter at all.
Patrick Stafford is a freelance journalist and a former deputy editor of SmartCompany.
