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Apple Shareholder Meeting: No Jobs But Promises Of A Return

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At Apple’s annual shareholder meeting reassured investors that Steve Jobs was still in the picture and plans to return in June, but refused to go into details of the situation: “He is deeply involved in all strategic matters and has delegated day-to-day authority to Tim Cook and his team,” said Arthur D. Levinson, a co-lead director of Apple (NSDQ: AAPL) and the chief executive of Genentech. “That’s where it stands.” Levinson went on to say that Apple’s board regularly discussed the matter of succession at the company and “if there is new information we deem of import to disclose, that will happen” reports New York Times. The shareholders can’t be too angry about the secrecy, singing Happy Birthday to the absent Steve Jobs. As well as Jobs board member and Google (NSDQ: GOOG) CEO Eric Schmidt was absent.

The board was reelected and a proposal to advise investors each year on the pay packages for top executives was defeated. There was a lot of stuff that was previously reported in the earnings call (such as Apple selling 13.7 million iPhones in 2008 ) and the fact that Apple has increased its revenue each year for four years, from $8 billion to $32 billion.

Despite an attempt by Apple at a blackout Fortune has a series of Twitter messages from a couple of investors. It notes that Apple was questioned about leaving Macworld, and Cook replied that “I have very fond memories of Macworld. Where we are now with retail investment blows macworld out of the water. Also we can announce press conferences whenever we want now which is better for the company”.

Feb 25, 2009 8:37 PM ET

Posted In: Companies, Apple, steve jobs

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