FILE PHOTO: An Apple logo is seen in a store in Los Angeles, California, U.S., March 24, 2017. REUTERS/Lucy Nicholson
(Reuters) – Apple Inc shareholders on Friday defeated a shareholder proposal from a conservative group that would have required the company to disclose the “ideological perspective” of nominees for its board of directors.
The proposal, placed on the shareholder ballot by the National Center for Public Policy Research, received only 1.7 percent of votes at the iPhone maker’s annual meeting in Cupertino, Calif.
The organization describes itself as a communications and research foundation supporting strong national defense and free market solutions.
Arguments were made both in favor of the proposal and against it in the Steve Jobs Theater, where the meeting is being held. Shareholder advisory firms Glass Lewis and Institutional Shareholder Services both recommended shareholders vote against it.
Reporting by Stephen Nellis; Editing by Bill Rigby