Apple Chief Executive Officer Steve Jobs holds the new " iPad" during the launch of the tablet computing device in San Francisco, Calif.KIMBERLY WHITE
Apple Inc.'s board faces a showdown with investor groups later on Wednesday over its succession plan for chief executive officer Steve Jobs.
According to a report by Bloomberg News, the board will be asked to disclose plans for replacing Mr. Jobs and explain how it's nurturing an executive team, under a resolution slated for a vote at the tech giant's shareholder meeting.
Apple opposes the measure, saying that revealing secret plans would aid competitors and make it harder to retain executives.
The meeting marks the first time Apple's board will be available for questioning since Mr. Jobs announced a leave of absence on Jan. 17, for the third time in the past seven years. The 55-year-old cancer survivor has not said when he will return, leaving chief operating officer Tim Cook in the driver's seat.
Apple also is facing a shareholder proposal backed by the California Public Employees' Retirement System that would require a majority vote to elect candidates to the board. The company says the plan would hinder its ability to keep members on its board.
There is some speculation over whether Mr. Jobs will be present at the meeting, according to the Wall Street Journal.
Apple's stock has been tumbling in recent days on concerns that the next version of its iPad tablet
Sonali Verma