Apple CEO to Face Investors Seeking More of Cash Hoard
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As Apple Inc. Chief Executive Officer Tim Cook takes the stage at this year’s shareholder meeting, he may not get the reception he received in 2012, when investors lauded the company’s performance and rising shares.
The annual event, where holders will vote on re-electing board members, takes place today at Apple’s headquarters in Cupertino, California. In this year’s run-up, the company has been enmeshed in a public spat over distribution of its $137.1 billion in cash and investments with hedge-fund manager David Einhorn, who advocates a bigger payout, using preferred shares.