FONT-SIZE Plus   Neg

Disney Shareholders Elect 10 Directors At Annual Meeting

Walt Disney Co. (DIS) said Tuesday that its shareholders elected 10 members of the Board of Directors at the 2012 Annual Meeting.

Shareholders also ratified the appointment of PricewaterhouseCoopers LLP as the company's independent accountants for the fiscal year ending September 29, 2012, and approved an amendment to the 2011 Stock Incentive Plan increasing the number of shares authorized to be issued under the company's plans. Shareholders also approved the advisory resolution on executive compensation.

Immediately following the annual meeting, Robert Iger, as expected, was formally elected Chairman in addition to his current role as Chief Executive Officer.

The Board, as previously announced, took this action to secure Iger's leadership through his expected retirement in 2016 to provide for an effective, seamless succession and management transition and a continuity of the company's proven strategy.

The company's Board of Directors also unanimously elected Orin Smith, 69, as the new independent lead director.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Xbox Live users are aggravated about repeated outages that have prevented gamers from accessing online multiplayer features. Blaming higher egg prices and other rising costs, Dunkin's Donuts will close 100 stores, all of them Speedway gas station and convenience store locations. Micron Technology, Inc. said that its fourth quarter profit fell 59% from last year, as sales declined and gross margins deteriorated amid weak demand and pricing pressures due to continued softness in the personal computer market. However, the company's quarterly earnings per share, excluding items, came in above analysts' expectations as did its quarterly sales.
comments powered by Disqus
Follow RTT