For many years, Apple directors have been shrouded in the shadow of Jobs. In order to maintain Jobs' privacy and authority, Apple's board of directors has made adjustments to corporate governance regulations many times in the past.

As Jobs' health becomes a big problem, Apple's board of directors has to make difficult choices on whether to return to the mainstream management model of large American companies.

In the past, Apple's board of directors has been criticized for indulging Jobs many times, but today, it has passed Andy Smith, a new director position that is not in opposition to Jobs, which is undoubtedly an attempt. Apple's board of directors will become seven members as Schmidt withdrew. This is really small for Apple's listed company, so no matter what adjustments Apple's board of directors make, it will have an important impact on Apple's shareholders and corporate culture.

Apple's board of directors has been along the way with Jobs's culture of confidentiality. It has never proposed a major measure to check and balance Jobs' power before. With this unique arrangement, it did work. Under the leadership of Jobs, Apple has developed a series of innovative products with great imagination, which are well known in the market.

However, during Jobs' sick leave, Apple's board of directors had once been overwhelmed by investors. Not only did it never disclose the specific reason for Jobs' sick leave, but even the director himself was concealed by Jobs for the real reason. For this reason, Girom York, who had asked Andy to replace his director seat, resigned in protest.

In addition, many members of the Apple Board of Directors have close personal relationships with Jobs, who promoted them, which allowed Jobs to firmly control the Apple Board of Directors. The directors rarely challenged his authority. The Apple Board of Directors has not held the position of chairman for many years.

The small scale, the members are close to Jobs' personal relationship and the chairman is vacant, which makes Apple's board of directors unable to compete with Jobs.

"In fact, our investors have long been uneasy about the company's confidentiality habits. It is understandable to keep business secrets confidential, but there seems to be no need for confidentiality for all investors to care about Steve, your physical condition, right?"

After the board of directors passed the resolution to take over Schmidt's salary committee, Andy looked at Jobs, who looked increasingly ugly with a light smile.

"I'm in good health, just a little trouble. Now it's fine. Besides, this is my personal privacy. I don't need to tell everyone. As for investors, they don't need to know, because they have made a lot of money. The only thing they should do is believe me and then shut up!" Jobs's mouth raised, his thin face, and his eyes were staring at Andy with a sinister look at him, and he said with a sneer.

"Haha, this is not like what a listed company with a market value of 100 billion US dollars should say. As a listed company, investors have the right to know the truth. According to the information I have received, many shareholders have begun to unite and prepare to propose a resolution at the annual meeting next year to ask Apple to publicly respond to your health status and draft and publicly write successor plans.

What’s even more ridiculous is that even us board members don’t know what your current body is. I think Apple now needs an external chairman to come to the Apple board and find new ways to show leadership and oversight functions.”

When Andy's tit-for-tat remarks began, everyone in the conference room looked as if they were watching their noses and their hearts, quietly watching the two of them fighting. However, when Andy mentioned the chairman, everyone raised their heads, their eyes flashed, and they began to feel a little restless.

"Impossible! Mr. Smith, please pay attention to your quota. This is not something you can decide!" At this time, Jobs had reached the critical point of anger, his eyes were full of anger, and his face was gloomy and stared at Andy, almost saying to Andy with a roaring tone.

"Sorry, maybe it's because I have a little problem with my tone. I just made suggestions. After all, this is the power given to me by the board of directors. The position of chairman has been hanging in the air for many years. The chairman of Apple seems to have to trace back to the 1990s, right?" Andy saw that Jobs was a little anxious and sneered in his heart. He still looked around the face with a smile on his face and shrugged his shoulders and asked helplessly.

"I think it's better to keep the status quo..."

"Yes, Apple is currently ushering in a period of rapid development. Maintaining stability is the most important thing. External chairman will inevitably cause some troubles..."

"I don't agree with the proposal of the external chairman, but investors have to be treated with caution..."

"Yes, I also heard that some shareholders are already very full. The more successful Apple is, the more concerned about Apple's future development plan. Once we make an initiative at the shareholders' meeting and receive the majority of support from the shareholders' meeting, we will inevitably be passive."

Hearing the opposition from everyone, Jobs's gloomy face became much better, while Andy did not feel unhappy because of these oppositions, and still smiled calmly. This was within his expectations. He himself did not really want to find a chairman to come back to decentralize power. Although the chairman could restrain Jobs, he was not a major shareholder of Apple. He did not want Apple to fall into internal strife, causing a failure and the stock price fell. He had no place to cry at that time.

The chairman's proposal is indeed a bit unreliable. No one here will agree. However, this is just a series of preparations for Andy. In order to see the final picture, although Apple cannot change too much, some small changes will still need to be done to make Jobs feel unhappy.

"In fact, there are many ways to make investors and shareholders feel at ease and keep their mouths shut."

"Oh, Andy, what are you doing? Tell everyone."

"Yes, let's talk."...

Jobs, who had already been relieved, frowned again and turned his eyes to the smiling Andy Smith's face. His eyes were sharp and he spoke in a cold manner: "Mr. Smith, do you have any good suggestions?"

"In fact, it's nothing. The agency participation right system can stipulate that shareholders who hold more than 3% of the shares for three consecutive years can directly nominate a board member. However, no matter how many shareholders holding more than 3% of the shares nominate directors, at most only one person can enter the board of directors.

I believe that shareholders and investors have channels to influence the company's development strategy, and they should be able to be satisfied. Besides, among the S&P 500 companies, more than 50 companies including Microsoft and Coca-Cola have implemented the "agent participation rights system", which has little impact on our Apple board of directors. They can also get rid of the criticism of being criticized by the outside world for being criticized by the authoritarian and ruling!"

Andy was a bit suspicious of criticizing the truth, but as soon as his idea came out, Jobs himself frowned and pondered, and the other directors also started discussing with each other.

All the people here are old foxes, and they are all management elites. Naturally, they know what the agency participation system is, and it is indeed the best tool to appease shareholders and investors. The key is the restriction that Andy proposed that shareholders who hold more than 3% of the shares for three years and no matter how many such shareholders nominated, at most one person, can only enter the board of directors, which undoubtedly touched everyone present.

"I agree that this proposal is feasible and can appease shareholders and investors to the greatest extent, so as not to keep asking about the opacity of our board of directors."

"There is no problem setting this threshold. Sure enough, Andy, you have brought us a different idea and perspective."

"I agree, too."

At this time, Jobs was also muttering and discussing with Cook on the side. It has to be said that the threshold proposed by Andy was originally very high, because according to Apple's current share price, holding 3% of the shares requires more than US$3 billion. Moreover, there are conditions, that is, no matter how many shareholders meet this condition, at most one board member can only be produced.

Moreover, Apple's board of directors consists of 8 people. Even if the director nominated by shareholders successfully enters the board of directors, the proposal will easily be easily rejected by the other directors in the case of 1:7, because the remaining seven directors, including Andy Smith, will wear a pair of pants with him, Jobs, which is a matter of PG's decision on his head.
Chapter completed!