Bloomberg News: Apple, Facing Criticism About Diversity, Changes Bylaws
Bloomberg News recently published a story about Trillium and Sustainability Group’s engagement with Apple, Inc., regarding board and executive diversity.
Adam Satariano writes:
“Apple Inc., facing behind-the-scenes pressure from some shareholders to add more female directors and executives, has taken a step to address the criticism and diversify its board.
The world’s most valuable company recently added language to its corporate charter vowing to diversify its board. The move follows objections from shareholders Trillium Asset Management LLC and the Sustainability Group, who said they’re disappointed that the iPhone maker has only one woman on its eight-member board, and one incoming female member of the executive team that reports to Chief Executive Officer Tim Cook.
The shareholders met with Apple representatives several times in the past few months and said they would bring the issue to a vote at a Feb. 28 shareholder meeting. They said they backed off after Apple tweaked its corporate charter, in which the company said it promised to consider women and minorities as board candidates, without making any specific commitments.
‘There is a general problem with diversity at the highest echelon of Apple,’ said Jonas Kron, director of shareholder advocacy at Boston-based Trillium, which manages $1.3 billion. ‘It’s all white men.’”
You can read the entire article here.