Apple’s Board Doesn’t Want You to Know What Happens In Case of a Steve Jobs Emergency

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Photo: David Paul Morris/Bloomberg via Getty Images

At its annual meeting, Apple's board voted down a proposal to disclose a detailed succession plan, including qualifications for a new CEO and whether there were internal candidates. The proposal was brought by Central Laborers' Pension Fund and backed by Calpers, which owns 2.6 million shares in Apple stock. Steve Jobs, who is currently on medical leave, was absent during Wednesday's meeting, only the second one he's missed this decade. Apple has long been secretive about Jobs's health and said before that revealing plans could give competitors an advantage. With the launch of Motorola Xoom kicking off the tablet wars and an iPad announcement expected next week, looks like both public pensions and the competition will remain the dark. [WSJ]