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Steve Jobs renominated for Disney board

updated 12:25 pm EST, Mon January 19, 2009

Jobs renominated at Disney

Apple CEO Steve Jobs has been renominated to serve on Disney's board of directors, in spite of medical problems, according to the company's 2009 proxy filing with the Securities and Exchange Commission. Jobs is the largest individual shareholder in Disney, with 7.4 percent of stock, which came as a result of his former role in charge of Pixar. The Toy Story studio has since been absorbed by Disney.

If re-elected by shareholders, Jobs will be one of 12 people on the 2009 Disney board. Jobs is cited as having attended at least 75 percent of required meetings during 2008, but is chiefly notable for being the only non-employee to receive no pay for his position; as at Apple, Jobs' Disney income is derived solely from stocks.

Continued work is expected to be possible with Disney due to a workload lighter than CEO duties. Reports also note that the company is lenient in renominating board members, so long they have a valid excuse. One of the members renominated for 2009 is Aylwin Lewis, who did not attend 75 percent meetings in 2008, but is noted to have experienced a "professional transition and a family health issue issue that triggered scheduling conflicts that were both unpredictable and unavoidable."




by MacNN Staff

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  1. leamanc

    Joined: Dec 1969

    +1

    Board meeting

    How many board meetings could there be a year? I bet no more than once a quarter does this board meet. So to attend 75% of scheduled meetings, you would have to attend three meetings a year.

  1. malax

    Joined: Dec 1969

    +1

    close

    The linked article says there are 6 required meetings. So to beat 75% you have to attend at least 5.

  1. bredlo

    Joined: Dec 1969

    -2

    and with a private jet...

    and with a private jet, I imagine it's pretty easy to zip on down from San Jose to L.A. for the afternoon. Not quite the hassle a regular joe faces attending a meeting in another city.

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