Shareholder Advisory Firm Questions Steve Jobs Re-election to Disney Board

Mar 22, 2011  •  Post A Comment

Given his frequent absences, the recommendation to reelect Steve Jobs to Walt Disney Co.’s board has been questioned by an influential shareholder advisory firm, reports the Los Angeles Times’ Company Town blog.

Institutional Shareholder Services, while stopping short of advising shareholders to vote against Jobs’ reelection, said Jobs had attended fewer than 75% of board and committee meetings in three of the previous four years, the story says. The firm acknowledged Jobs’ medical issues but said that shareholders require a deeper explanation for reelecting him to the board, the story says.

“Jobs’ poor attendance in three of the past four years, and recent leave of absence from his primary employer, raises questions about his ability to fulfill his responsibilities as a director of the company,” ISS wrote, the story says. Disney’s shareholder meeting is scheduled for Wednesday, although neither Disney nor Apple said whether Jobs will attend, it adds.

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