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Apple shareholders vote for company to conduct a civil rights audit

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Apple CEO Tim Cook attended the grand opening of The Grove’s new Apple Store on November 19, 2021, Los Angeles, California.

Mario Tama | Getty Images

AppleShareholders approved Friday’s proposal that the company board conduct a third party audit to review company policies and offer recommendations to increase civil rights impacts. Apple opposed the idea.

Apple shareholders typically vote according to management recommendations. The approval indicates that the majority of Apple investors agree that Apple has the potential to improve its approach on issues like leadership diversity and gender pay equity.

After a time when Apple had to deal with problems from its employees running away, the proposal was made. a pay equity studyApple has not stated that they have gender- and racial pay equality policies, but this was reported by Apple. diversity metricsThis showed that Hispanics and Black employees make up a very small proportion of the technology workers and leaders at Apple.

SOC Investment Group supported the proposal along with Service Employees International Union (SEIU) and Trillium Management. They welcomed its approval and stated that it would allow investors to monitor Apple’s public relations.

“We are going to use the company’s metrics to say: “Okay, what can you do to live up to your commitments?” Dieter Waizenegger is the SOC executive director. Does your activity really move the needle? Is it PR?

Waizenegger stated that this approval shows the willingness of large shareholders to vote on governance-related shareholder propositions at public companies. The previous year was Microsoft hired a law firm to review sexual harassment policiesFollowing approval by its shareholders, a proposition was approved at the general meeting.

Waizenegger explained that big investors recognize the importance of audits and reports.

Waizenegger explained that although the proposal is advisory in nature, it is expected that shareholders would hold company board members accountable if something is approved by a majority vote of shareholders.

Apple claimed that the proposals objectives are already met by its policies. A representative of Apple declined comment.

Apple stated in its proxy that Apple already fulfilled the proposals objectives in a variety of ways. These include impact and risk assessment, Board oversight and active governance, engagement with key stakeholders and public reporting.

Apple shareholders approved Friday’s meeting and included CEO Tim Cook’s recent award of up to 1 million Apple sharesThe company’s board was re-elected. The company also rejected five other shareholder propositions.

Apple has not yet released the exact number of shareholder votes.

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