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AAPL Stock: 99.74 ( -1.01 )

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AAPL shareholder\'s meeting

updated 06:35 pm EDT, Thu April 27, 2006

AAPL shareholder\'s meeting

Steve Jobs, CEO of Apple and Pixar today at Apple's annual shareholder's meeting in Cupertino said he has no interest in becoming an executive at Walt Disney, but rather plans to spend more time at Apple once he is free of his duties as Pixar's executive officer. Disney recently agreed to acquire Pixar for $7.4 billion, which will simultaneously place Jobs on Disney's board of directors and make him the company's largest shareholder, once the deal is complete. An Apple shareholder asked Jobs at the meeting if he had any interest in becoming the Michael Eisner of Disney, according to the Associated Press. Jobs responded, saying that "it's not because I want to be a senior manager at Disney. I don't want to do that." Jobs added that Robert Iger -- the current CEO of Disney -- "is the best person to run Disney."

Jobs said he understood worries that he will spend more time at Disney in the near future, but contested the concerns saying "that couldn't be further from the truth. [...] It'll require less of my time than Pixar did."

While the executive publicly discarded any notion of becoming a Disney executive, he didn't explicitly rule out the possibility of becoming the company's chairman. Jobs did say, however, that he doesn't see himself becoming Disney's chairman back in January. The company's current chairman is expected to retire next year when his term expires, according to the report.

"I think there are people that can do a better job at that than me," Jobs said on the day the Disney-Pixar acquisition was announced. "My interest is really just being on the board and helping Bob make this combination super successful and helping him in any other way he asks me to."

Apple said a preliminary count of votes revealed that its shareholders re-elected the company's seven board members, and rejected a proposal to study how the company could improve its recycling program, which was reportedly offered by environmental advocates.




by MacNN Staff

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Comments

  1. aristotles

    Joined: Dec 1969

    0

    Understandable

    He does not want to run a Mickey Mouse operation. :)

  1. RevEvs

    Joined: Dec 1969

    0

    ho ho ho

    ho ho ho ho ho :)

  1. Stephen G. Esrati

    Joined: Dec 1969

    0

    Shareholders

    In vuew of huge profits, it was time for AAPL to pay a dividend.

  1. zac4mac

    Joined: Dec 1969

    0

    Apple won't do dividends

    Which is one of the reasons I sold my stock and bought a house...Z

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