An activist shareholder has reached his limit with former Vice President Al Gore and is seeking to have him removed from his lucrative position on Apple Inc.’s board of directors.
Gore is Apple’s longest-serving director and was first elected to the board in 2003.
The late Apple CEO Steve Jobs was in charge when Gore was picked for the board.
“Al brings an incredible wealth of knowledge and wisdom to Apple from having helped run the largest organization in the world – the United States government – as a Congressman, Senator, and our 45th Vice President,” Jobs said at the time.
But ethics watchdog National Legal and Policy Center (NLPC), an Apple shareholder, says it is time for Gore to get the boot.
The group filed an exempt solicitation with the Securities and Exchange Commission urging fellow Apple shareholders to vote against Gore as a director nominee at the tech giant’s annual meeting on March 10.
NLPC’s Corporate Integrity Project Director Paul Chesser said:
“Al Gore was never qualified to serve on Apple’s board in the first place, so for him to last for over 20 years is absurd.
“The only credentials he had, or has ever had, that meet any of Apple’s questionable criteria was that he’s been a Chicken Little for global warming.
“That term was so discredited that it’s now called ‘climate change.’
“And so many of his other prophecies of doom have been proven untrue that he should be considered a false prophet.
“Time has proven that whatever credibility Al Gore might have had is totally shot, and he belongs nowhere near any company’s board of directors.
“Apple shareholders should oppose his renomination,” he said.
According to The New York Post:
The “green-friendly” investment firm co-founded and run by former Vice President Al Gore, 74, owns a portfolio of more than $26 billion worth of shares in nearly two dozen companies that were found to have increased greenhouse gas emissions in recent years, according to a report.
Gore, whose Oscar-winning film “An Inconvenient Truth” cemented his status as the most prominent doomsayer on climate change, chairs the London-based Generation Investment Management, which touts a “stated emphasis on sustainable investment options.”
But a recent analysis by Bloomberg News found that Generation’s Global Equity fund, which numbers a total of 42 companies, includes 18 firms that emitted increasingly more greenhouse gases annually between 2015 and 2021.
Bloomberg ranked Generation, which has $40.4 billion worth of assets under its management, as among the companies that owned the greatest share of greenhouse gas-emitting firms when compared to other funds that placed a priority on so-called ESG — environmental, social, and governance — investing.