CEO Jobs will return, Apple says

Feb. 26, 2009 at 9:01 AM
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CUPERTINO, Calif., Feb. 26 (UPI) -- U.S. technical giant Apple Inc. repeated its claim that Chief Executive Officer Steven Jobs would return to work in June after dealing with health problems.

At the annual shareholder meeting Wednesday, Arthur Levinson, a co-lead director for the company, said Jobs remained "deeply involved in all strategic matters," although he has "delegated day-to-day authority to (Chief Operating Officer) Tim Cook and his team," The New York Times reported Thursday.

Communication issues surrounding Jobs' health issues have reportedly sparked an investigation by regulators and calls for more transparency on health issues for critical corporate executives.

For some public companies, a top executive's health can affect share prices.

Levinson said, "If there is new information we deem of import to disclose, that will happen."

He also said Apple's board of directors regularly discusses the issue of succession, the Times said.

At the meeting, some said Apple should be more forthcoming with information concerning Jobs' health.

"I was disappointed by the fact that the board was not more transparent about the health of Mr. Jobs in addition to a succession plan," said Brandon Rees, representing the AFL-CIO Reserve Fund.

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