Apple Urges Rejection of Shareholder Proposal to Diversify Board Ideologically

Apple’s board is asking shareholders to reject a National Center for Public Policy Research proposal to disclose future board nominees’ “ideological perspectives,” along with their skills and experience, said a definitive proxy statement Tuesday at the SEC for Apple's March 1 annual meeting in Cupertino, California. The conservative think tank, which owns at least $2,000 worth of Apple stock, believes boards “that incorporate diverse perspectives can think more critically and oversee corporate managers more effectively,” said the proxy. There’s “ample evidence” that Apple, and the tech industry "generally," operate in "ideological hegemony that eschews conservative people, thoughts, and values,” it said. “This ideological echo chamber can result in groupthink that is the antithesis of diversity. This can be a major risk factor for shareholders.” Apple doesn’t “consider a nominee’s ideological perspectives to be relevant to the Board’s oversight role or the nominee’s ability to serve as an effective director," said the company in the proxy. Apple “considers a wide range of factors in assessing whether each nominee, and all nominees as a group, provides the background, experiences, and attributes necessary to effectively perform the Board’s oversight function,” it said.