The California Public Employees’ Retirement System (Calpers) wants Apple to change the way it elects members to its board, but Apple is reportedly resisting the proposed change.
[ad#Google Adsense 300×250 in story]According to the Wall Street Journal, an Apple board member can keep their seat with a single yes vote if the election is uncontested. Calpers wants members to keep their seats by winning a majority vote.
Calpers is forcing a vote by submitting a shareholder resolution at Apple’s annual meeting in February 2011. Calpers says the current system does not make members accountable and makes it difficult to oust a board member.
Apple isn’t the only company Calpers is requesting the change from. It has submitted the same request to 58 U.S. companies.