CEO succession plan rejected by Apple shareholders

Apple shareholders rejected a proposal today that would require the company to disclose a CEO succession plan.

Apple shareholders rejected a proposal today that would require the company to disclose a CEO succession plan.

The proposal asked Apple to develop internal CEO candidates, plan for succession in at least three years in advance, and adopt specific criteria for new CEOs. The plan was sparked by Apple stockholder, the Central Laborer's Pension Fund, and comes on the heels of Steve Jobs'  indefinite medical leave of absence that was announced in January. Less than two weeks ago, it was reported that Jobs is working from home.

Apple currently conducts CEO planning internally and said disclosure would muddle executive recruitment and retainment.

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