More Pension Funds Line Up Against Eisner

Posted In | News Categories: Business | Geographic Region: All | Site Categories: Business
Six more state pension funds lined up Thursday to oppose the reelection of chairman Michael Eisner to the Walt Disney Co. board. Funds in New York, New Jersey, Connecticut, Massachusetts and Virginia plus the California State Teachers Retirement System joined the California Public Employees Retirement System in withholding support for the embattled Eisner, according to Bloomberg.

All told, the seven funds hold 39 million Disney shares, or 1.9% of the company’s stock. Former directors Roy Disney and Stanley Gold, who are urging shareholders to vote no on retaining the directors at next Wednesday’s annual meeting in Philadelphia, are hoping for at least a 20% no vote.






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