(
)
With Steve Jobs removed from Apple’s day-to-day operations, everyone wants to know who will succeed the tech king if he decides to pass on his CEO crown — everyone, that is, except Apple shareholders.
Apple investors are on track to vote down a proposal that would force the tech giant to reveal its succession plan, sources told The Post.
The final tally could change, but the numbers going into today’s shareholder meeting in Cupertino, Calif., suggest Apple will prevail in keeping its succession plans private.
As of yesterday evening, the measure had the support of 30 percent of investors — short of the 50 percent needed to pass.
Even so, Jennifer O’Dell, who’s sponsoring the proposal, said she would still consider that tally “a victory” because it sends the message that an increasing number of shareholders are growing antsy over the succession plan.
The proposal, put forth by a union pension fund in Jacksonville, Ill., got the thumbs up from important corners, including the $231 billion California Public Employees’ Retirement System and the $140 billion New York State Common Retirement Fund.
But large mutual funds, which own the bulk of Apple’s stock, are buying the company’s argument that it has a plan in place and that disclosing it would invite “competitors to recruit high-value executives away from Apple.”
Ryan Jacob of the Jacob Internet Fund is among the shareholders siding with Apple.
“We’re following the director’s recommendation on that,” he said. “The plan doesn’t necessarily have to be public.”
Colin Gillis, an analyst at BGC Partners, said the more pressing issue is what Apple plans to do with its $60 billion in cash.
“They’re not using the cash,” he said. “It’s just sitting there and people don’t like to see that.”
Also on shareholders’ minds will be the next generation of Apple’s successful iPad, expected to be unveiled on March 2 by COO Tim Cook. gsloane@nypost.com