Corporate governance

What CEO succession plan?

February 6, 2011: 1:37 PM ET

Apple is not alone. According to a recent survey, only 35% of companies have one.

Source: Korn/Ferry

At Apple's (AAPL) annual meeting on Feb. 23, shareholders will vote on a proposal that asks the company to produce a written CEO succession plan -- a motion that was endorsed Friday by Institutional Shareholder Services, an influential proxy service firm.

All companies should have such a plan in place, ISS said in remarks that were widely reported in the business press.

What ISS should have added is that very few companies do.

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