Walt Disney shareholders re-elect all directors

MUMBAI: Shareholders of The Walt Disney Company at the 2009 Annual Meeting today elected all 12 members of the Board of Directors and supported Board recommendations on the company’s auditor and stock and executive compensation plans, based on preliminary results.

Shareholders also agreed with the board in rejecting three shareholder proposals regarding political contributions, executive death benefits and shareholder votes on executive compensation.

Disney chairman John E. Pepper Jr. introduced members of the Board of Directors. Pepper noted that the current year "is proving to be even more challenging," but that Disney management and its board remain "sharply focused on building long-term shareholder value."

"We are being extremely realistic about the global economy and the challenges we face. But that realism is accompanied by a strong belief in what we can accomplish together to not only emerge from this downturn but to position the company for future prosperity," Disney president and CEO Robert A. Iger told shareholders.

"It is this blend of realism and optimism that is guiding us through this unsettling time," he added.

Based on preliminary results, the following directors were re-elected to the Board: Susan Arnold, John E. Bryson, John S. Chen, Judith L. Estrin, Robert A. Iger, Steven P. Jobs, Fred H. Langhammer, Aylwin B. Lewis, Monica C. Lozano, Robert W. Matschullat, John E. Pepper Jr. and Orin C. Smith.