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."
Fresh-Faced Recruit
Joined: Oct 2003
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.