Jobs' seat on Disney board not to be filled by widow or Trust
Neither Steve Jobs' widow nor a representative of his trust will be on the ballot when Disney shareholders vote on re-electing the company's board, says a report. The Jobs Trust is Disney's largest shareholder.
Neither Steve Jobs' widow nor a representative of his trust will be on the ballot when Disney shareholders meet in March to vote on re-electing the company's board of directors, Reuters reports. That's despite the fact that the Jobs trust is Disney's largest shareholder.
The Steven P. Jobs Trust owns nearly 137.3 million shares, or 7.7 percent, of Disney's common stock, according to a proxy filed by Disney yesterday and cited by Reuters. The proxy also says that Jobs, as he had requested, received no compensation for being on the Disney board.
In the proxy filing, Disney said 10 of its 11 current board members would stand for re-election, including Facebook COO Sheryl Sandberg and Disney CEO Robert Iger. Board Chairman John Pepper Jr. announced last year that he would leave the board at this year's annual meeting, which is set for March 13. Iger is expected to take on the chairman role.
The news agency said Disney had not responded to a request for comment and that Apple had declined to comment.