Apple’s Cook Signals New Era in Heeding Investors’ Concerns

Apple Inc. Chief Executive Officer Tim Cook, who yesterday told investors they would get more say in picking board members, signaled greater willingness than his predecessor to heed the concerns of his company’s shareholders.

Apple said at its annual shareholder meeting that it would adopt a policy that says a majority -- rather than only a plurality -- of shareholders is needed to elect directors. Cook also reiterated that the company is exploring how to use its $97.6 billion in cash in investments, responding to investors’ criticism that its balance sheet holds too big a hoard.