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Disney Shareholders Elect 10 Directors At Annual Meeting

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Walt Disney Co. (DIS: Quote) 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.

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by RTT Staff Writer

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