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Apple CEO Talks Succession Plans At Annual Meeting

Apple held its annual meeting overnight with CEO Tim Cook saying the company should expect higher dividends and one of his most important roles as CEO is succession planning.

Bloomberg reports Cook discussed succession planning stating one of his most important roles as CEO is passing the baton to a new leader. He says every Apple board meeting in the past years has had succession planning on the agenda.

When asked if shareholders would get special dividends as Cook says he is not a fan of special dividends but says the board remains committed to annual dividend increases, as Apple will be gaining hundreds of billions of dollars after Trump’s US tax reforms.

Another proposal made to Apple was for the company to create a human rights panel to oversee issues including workplace conditions and censorship in China and for it to report back to the public. It was defeated with 94.4 per cent of shareholders voting against it, Reuters reports.

This comes after the company has been exposed multiple times for using child labour to build its iPhone X and having workplace conditions harming its workers.

Cook says an update on Apple’s capital return program will be provided in April during its earnings call with investors.

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