An activist shareholder who invested a significant sum in the stock of Apple proposed a share repurchase program. If this suggestion was approved at the annual shareholder's meeting, Apple would be in a position to buy back a significant amount of its shares on stock market, which is going to stimulate the stock price.
The executives and BOD rejected the proposal and urged that the stockholders vote against it. The following annual meeting of investors of Apple was scheduled to be held on Friday, February 28, 2014. Shareholders follow the recommendation of the board of Apple or could either vote for the proposition.
PUBLICATION DATE: March 27, 2015 PRODUCT #: W14736-HCB-ENG
This is just an excerpt. This case is about LEADERSHIP & MANAGING PEOPLE
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