Apple pushed to reform governance

Apple granted shareholders greater influence over the election of directors yesterday—finally giving in to investor pressure that has persisted for over a year.

The company had overlooked a shareholder vote at last year’s annual meeting calling for the change, but faced renewed pressure from pension giant CalPERS, which owns 0.26% of the company, to introduce majority voting for seats in the boardroom.

Find out how this shift that will put pressure on other leading U.S. companies to follow suit in improving their corporate governance standards.