Attendance question raised once again

Yet another group is now opposing Steve Jobs' re-election to the Disney board of directors. Advisory firm Glass Lewis & Co. has issued a report recommending Jobs' replacement, noting that the Apple CEO was missing from 75 percent of Disney board meetings in 2010. "We believe that in light of Mr. Jobs' continued medical problems, shareholders would be better served by a director able to make the necessary commitment to the company," the report says. "We note that this is the third time in four years where Mr. Jobs has been unable to meet this attendance threshold."

Jobs is currently on his third medical leave since 2004, when he was first treated for pancreatic cancer. While he is still conducting some business affairs, even participating in press events, his involvement with Apple has been severely reduced and is likely to be even smaller with Disney. Tim Cook has stepped in to handle most of Jobs' day-to-day Apple tasks.

Also in opposition to Jobs' re-election at Disney is the AFL-CIO. Like Glass Lewis, the AFL-CIO has complained that Jobs is absent from the majority of board meetings. Jobs is nevertheless Disney's largest individual shareholder, owning about 7.29 percent of company stock; he was in control of Pixar when the animation studio was sold to Disney.

by MacNN Staff