Bloomberg is reporting that 74% of Walt Disney Co. investors voted to keep the company’s same Board of Directors. That means Apple CEO Steve Jobs will remain on the Board despite the AFL-CIO labor union’s vote against Jobs’ reelection. That organization holds 3.8 million Disney shares. Plus, the Institutional Shareholder Services reported that Jobs had […]
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Apple CEO Steve Jobs Reelected to Disney Board of Directors In Spite of Opposition

Walt-Disney-Company.jpg.gifBloomberg is reporting that 74% of Walt Disney Co. investors voted to keep the company’s same Board of Directors. That means Apple CEO Steve Jobs will remain on the Board despite the AFL-CIO labor union’s vote against Jobs’ reelection. That organization holds 3.8 million Disney shares. Plus, the Institutional Shareholder Services reported that Jobs had “poor attendance” at Board of Directors meetings since 2008, showing up less than 75% of the time.

Jobs of course, came to be on on the Disney Board of Directos when Disney purchased Pixar from Jobs in 2006. The company paid Jobs with $7.4 billion in stock options, making him the company’s single largest shareholder.

I don’t know the particulars, and this is only my guess- but I would assume that although Jobs doesn’t attend the meetings, he still maintains contact. One should also note he hasn’t been in the greatest of health as of late (which does bring up the debate as to wether he should remain on the board), and I’m sure he really doesn’t care. He’s busy running another company after all.

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