: Apple Shareholders Overwhelmingly Reject Diversity Proposal


SINC
Mar 3rd, 2017, 11:26 AM
Apple shareholders rejected a proposal yesterday that would have required the company to improve the diversity of its top ranks. This is the second year in a row that Apple shareholders have shot down the proposal, with just over 95 percent of the vote opposing it this time around — slightly more than last year.

The proposal, submitted by shareholders Tony Maldonado and Zevin Asset Management, asked Apple to “adopt an accelerated recruitment policy ... to increase the diversity of senior management and its board of directors." Maldonado and Zevin had argued that Apple’s upper ranks were responding too slowly to the company’s own diversity initiatives and that it would ultimately come back to bite them, be it through missing talent or new opportunities.

“THIS IS JUST THE BEGINNING OF A LONG BATTLE.”

Though Maldonado didn’t expect the initiative to pass, he was looking to hit at least 6 percent of the vote this year, which would have allowed him to try again in 2018. He missed the target — and one reason why may be that Apple itself encouraged shareholders to reject the proposal.

“Apple basically duped the investors, to be quite honest,” Maldonado told The Verge in a phone call today. “They conned ’em to say, ‘Look, we're on top of it. Don’t worry about it. Everything’s fine.’ However, I believe that shareholders don’t have all information as to the background of the issue.”

More on The Verge.

http://www.theverge.com/2017/3/1/14781854/apple-shareholders-reject-diversity-proposal-for-second-year

John Clay
Mar 3rd, 2017, 11:45 AM
Diversity is the buzz word of the day, but a company should be promoting and hiring 100% on merit, not on age, gender, orientation, or ethnicity. To do otherwise is a disservice to the shareholders.

eMacMan
Mar 3rd, 2017, 12:24 PM
Diversity is the buzz word of the day, but a company should be promoting and hiring 100% on merit, not on age, gender, orientation, or ethnicity. To do otherwise is a disservice to the shareholders.

Hiring someone because they fill a politically correct niche can do every bit as much harm as making the nephew of the big cheese a managing director.

macintosh doctor
Mar 3rd, 2017, 02:32 PM
Hiring someone because they fill a politically correct niche can do every bit as much harm as making the nephew of the big cheese a managing director.

agreed - look at Al Gore.. all he does is cash in.

pm-r
Mar 3rd, 2017, 04:01 PM
Maldonado and Zevin had argued that Apple’s upper ranks were responding too slowly to the company’s own diversity initiatives and that it would ultimately come back to bite them, be it through missing talent or new opportunities.



Some déjà vu glimpses of Research In Motion Limited (RIM) and BlackBerry comes to mind here… :o

ehMax
Mar 4th, 2017, 02:55 AM
Diversity is the buzz word of the day, but a company should be promoting and hiring 100% on merit, not on age, gender, orientation, or ethnicity. To do otherwise is a disservice to the shareholders.

I agree. Maybe a policy of some sort of "blind evaluation" for the first few stages of the HR process?

polywog
Mar 4th, 2017, 07:22 AM
Maldonado and Zevin had argued that Apple’s upper ranks were responding too slowly to the company’s own diversity initiatives and that it would ultimately come back to bite them, be it through missing talent or new opportunities.

This makes no sense to me at all. Apple is at an all time high (by the books anyway.) They apparently have the talent they need in place. Are they suggesting replacing members of the upper ranks, simply because those there now are too white and/or too male?

"missing talent or new opportunities" could also very well be that they overlook a perfectly good candidate, in favour of hiring a candidate that matches their definition of diverse.

Is there a discrimination problem? Sure. The solution isn't applying different discrimination, the solution is eliminating it (at least, during the hiring phase.)

amaloney
Mar 6th, 2017, 05:54 PM
I am in favour of discrimination.
It is very important to maintain discrimination based upon talent and merit.
As a shareholder, I would be disappointed if my company did not discriminate in favour of good talent and meritorious work.

Discrimination based upon political correctness has no place in any publicly-traded company.