Apple Elects Second Woman to Board of Directors – Demonstrating Commitment to Diversity
July 21, 2014: The Sustainability Group of Loring, Wolcott & Coolidge and Trillium Asset Management, LLC commend Apple Inc. (NASDAQ: AAPL) for electing Sue Wagner, founding partner and director of BlackRock, to its Board of Directors. Ms. Wagner is widely acknowledged as a strategic thinker and pioneer in the field of finance. Given her experience in mergers and acquisitions, Ms. Wagner is a strong addition to the Board as Apple continues to expand its business globally. Following dialogue with Trillium and The Sustainability Group in December 2013, Apple updated its Nominating and Corporate Governance Committee Charter to include strong language …
Apple’s Supply Chain Using Only Conflict-Free Tantalum
In February 2014, Apple, Inc. (NASDAQ: AAPL) announced that all of the tantalum smelters used by its suppliers are conflict-free. Trillium Asset Management commends Apple’s leadership in supporting ethical sourcing of minerals and economic development in the Democratic Republic of Congo (DRC) and neighboring regions. In our view, Apple’s strategy to source clean minerals from the DRC is sound risk management. The company’s 2014 Supplier Responsibility Report includes a comprehensive list of the smelters and refiners whose tin, tantalum, tungsten, and gold has been verified as conflict-free and which ones have not received independent verification. This information allows investors and …
Los Angeles Times: Apple Pledges to Consider Adding More Women, Minorities to Board
Trillium and Sustainability Group’s engagement with Apple, Inc., regarding board and executive diversity, continues to receive wide media coverage. Jessica Guynn, technology reporter for the Los Angeles Times, writes: “[The] company added new language to the board charter to say it plans to consider women and minorities as board candidates. Apple made the move after shareholders Trillium Asset Management and the Sustainability Group expressed disappointment that Apple has only one woman on its eight-member board and only one woman on its executive team reporting to Chief Executive Tim Cook. ‘This is going to be a multiyear process. It is not …
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 …
Apple Updates Charter of Nominating and Corporate Governance Committee to Clarify Diversity Commitment
Recently, Apple Inc. (NASDAQ: AAPL) updated its Nominating and Corporate Governance Committee Charter to include strong language on the importance of diversity in its candidate selection for the Board of Directors. The document makes clear that the committee actively seeks “highly qualified women and individuals from minority groups to include in the pool from which Board nominees are chosen.” The Sustainability Group of Loring, Wolcott & Coolidge and Trillium Asset Management engaged Apple on this subject and commend the company for this important step. With this move, Apple has further institutionalized its commitment to addressing gender and racial diversity at …
Trillium Supports Proposal #2 on Apple Inc.’s 2013 Proxy Materials
Trillium Asset Management supports management Proposal #2 on Apple Inc.’s 2013 proxy materials. The proposal asks shareholders for approval to amend the company’s articles of incorporation to: 1. Eliminate certain language relating to the term of office of directors in order to facilitate the adoption of majority voting for the election of directors; 2. Eliminate “blank check” preferred stock; 3. Establish a par value for the Company’s common stock of $0.00001 per share; and 4. Make other conforming changes as set forth in the text of the amendment below, including eliminating provisions in the Articles relating to preferred stock of …
Trillium Withdraws Shareholder Proposal at Apple Inc.
In response to Trillium’s recent shareholder proposal regarding privacy issues, Apple Inc. (NASDAQ: AAPL) has updated its Board’s Audit and Finance Committee charter to include responsibility regarding regulatory, legislative, and reputational privacy risks that confront the company. Trillium’s proposal, which highlighted the business and social privacy risk and impacts that come with handling personal information, sought more clarity regarding Board oversight of these issues. The improvements to Apple Inc.’s governance will help the company protect the privacy of its customers and the wellbeing of the company. Accordingly, Trillium is pleased to withdraw the shareholder proposal. “We very much appreciated having …
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