CUPERTINO, Calif.--Apple shareholders approved a non-binding resolution Tuesday asking the board of directors to give shareholders input on executive compensation.
Preliminary results of the voting were not immediately available following the close of Apple's annual meeting of shareholders, but the proposal required a simple majority to pass. Another shareholder proposal to create a board committee on sustainability and environmental protection was rejected.
Scott Adams, representing the AFL-CIO, urged shareholders to demand a "say on pay," bemoaning the runaway surge in executive compensation. "The U.S. system for paying the CEO is broken," he said. … Read more