Search form

Disney Shareholders Elect All 11 Directors At 2007 Annual Meeting

The Walt Disney Co. shareholders overwhelmingly elected all 11 members of the board of directors at the 2007 annual meeting on March 8.

New Disney chairman John E. Pepper, Jr. welcomed shareholders to the first annual meeting ever to be held by Disney in New Orleans.

"Disney is a collection of vibrant, creative engines that we manage in a consistent and integrated way," said Disney president/ceo Robert A. Iger, in remarks to investors. "This combination of assets and management philosophy gives us a unique competitive advantage as well as extraordinary opportunities to grow and build real shareholder value for years to come."

Based on preliminary results, 98% of the shares voted were cast in favor of electing the following directors to the board: John E. Bryson, John S. Chen, Judith L. Estrin, Iger, Steven P. Jobs, Fred H. Langhammer, Aylwin B. Lewis, Monica C. Lozano, Robert W. Matschullat, Pepper Jr. and Orin C. Smith

Final voting tallies are subject to certification by the company's inspector of elections, and will be included in the company's next quarterly report filed with the Securities and Exchange Commission.

Shareholders also ratified the appointment of PricewaterhouseCoopers Llp. as Disney's independent accountants for the fiscal year ending Sept. 30, 2007.

An increase in the maximum number shares of stock under the company's Amended and Restated 2005 Stock Incentive plan was also passed by shareholders, as well as the renewal of Disney's 2002 Executive Performance Plan. Additionally, shareholders agreed with the board to reject shareholder proposals regarding anti-greenmail payments and a stockholder rights plan.

The Walt Disney Co., together with its subsidiaries and affiliates, is a leading diversified international family entertainment and media enterprise with four business segments: media networks, parks and resorts, studio entertainment and consumer products. Disney is a Dow 30 company and had annual revenues of more than $34 billion in its most recent fiscal year and a market capitalization of $70.5 billion as of March 7.

Tags 
randomness