Jobs Family Absent From Disney Board Annual Meeting Despite Having Largest Stake Of 7.7 Percent

Posted on Jan 23 2012 - 10:11am by Editorial Staff

The Walt Disney Shareholders will not see any of the late Steve Jobs’ family members or representative during the upcoming annual meeting scheduled for March to re-elect directors.

The family is having the total of 7.7 percent stake or 137.3 million shares, which is the largest media company’s shareholder. Jobs had stayed on Disney’s board until he resigned as Apple’s CEO last year; he stayed board chairman at Apple until his death in October.

During its proxy filing on Friday, Disney said that 10 of its 11 current board members would stand out for re-election. Details from the previous filling confirmed that Jobs in his final year still declined any financial compensation for being on the Disney board.

Chairman John Pepper Jr., only Disney board member who is not up for re-election, announced back in October that he plans to step down from the board at the upcoming annual meeting, scheduled to be on March 13 in Missouri.

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Editorial Staff at I2Mag is a team of subject experts led by Karan Chopra.