Steve Jobs Reelected to Disney Board Despite Absences

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Apple CEO Steve Jobs has been reelected to the board of directors if Walt Disney Co., despite some shareholder protest over his poor attendance record for board meetings. Mr. Jobs was opposed by two shareholder advisory groups and the AFL-CIO trade union because he had missed 75% of Disney’s board meetings in the last three years, but still won reelection with 74% of shareholder supporting him, according to Bloomberg.

“The Walt Disney Company considers itself fortunate to have Steve Jobs as a member of its board of directors,” the company said in a statement after the meeting, which was held today in Salt Lake City, Utah.

NPR noted that Mr. Jobs’s influence at Disney has ranged from the company having many iPhone and iPad apps to a redesign of Disney’s fleet of retail stores. Disney’s management, which supported his reelection, and shareholders apparently valued that influence and advice more than his sub-par attendance record while he’s been battling health problems.

Shares of Disney rose Wednesday, ending the day at US$42.24, up $0.80 (+1.93%), with moderate volume of 11.7 million shares trading hands.

Steve Jobs & Bob Iger

Steve Jobs and Disney CEO Bog Iger after an Apple media event
Source: The Mac Observer

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