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Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock

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Apple Shareholders Reject Plan to Recruit Minorities for Top Positions

By
Katie Reilly
Katie Reilly
and
TIME
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Katie Reilly
and
TIME
TIME
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February 27, 2016, 10:25 AM ET
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CUPERTINO, CA - OCTOBER 16: Apple CEO Tim Cook speaks during an event introducing new iPads at Apple's headquarters October 16, 2014 in Cupertino, California. (Photo by Justin Sullivan/Getty Images)Justin Sullivan Getty Images
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Apple shareholders rejected a proposal that would have required them to adopt an “accelerated recruitment policy” to place minorities in top positions at the company.

The proposal failed 94.9% to 5.1%, the Guardian reported, citing an announcement at Apple’s annual shareholder meeting on Friday. The company’s board had urged shareholders to vote against the proposal.

“There’s much more work to do on diversity across the company. I can commit to you we are working very hard on it,” Apple CEO Tim Cook said after the vote.

Here’s Why the Public Is Siding With the FBI in the Apple Battle:

Lack of diversity has long been a problem among the many Silicon Valley companies that employ mostly white men. Apple has said previously it would work to address gaps in employee diversity.

The proposal earned the support of civil rights groups and leaders, including Rev. Jesse Jackson, but Apple had characterized the measure as “unduly burdensome and not necessary,” Bloomberg reported.

Apple’s eight-person board includes two women and one black man.

This article was originally published on Time.com

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