Apple is not alone. According to a recent survey, only 35% of companies have one.
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.
By Yi-Wyn Yen
The only thing surprising about the resolution between Yahoo's board of directors and activist investor Carl Icahn was that it didn't happen sooner.
The proxy campaign that Icahn launched nearly three months ago to eliminate Yahoo's board and replace it with his own cronies at the Aug. 1 shareholder meeting came to an end Monday when the two sides finally agreed to a compromise. Proxy experts say they expected a MOREyiwyn - Jul 21, 2008 8:46 PM ET
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