Apple yields to governance reform call

Apple has bowed to investor demands to give shareholders greater influence over the election of directors, a move that will make it far harder for other leading US companies to ignore calls to improve corporate governance standards.

The technology group had disregarded a shareholder vote at last years annual meeting calling for the change, but faced renewed pressure from Calpers, the largest US public pension fund, to introduce majority voting for seats in the boardroom ... READ MORE

Released by Financial Times - 23 February 2012