AFSCME Employees Pension Plan, Washington, will withhold its proxy votes for Michael D. Eisner, chairman and CEO of the Walt Disney Co., Burbank, Calif., at the company's annual meeting March 3. "We believe the chairman and CEO positions should be split," said Richard C. Ferlauto, the $600 million plan's director-pension and benefit investment policy. Also, the fund is withholding its votes for Robert A. Iger, president and COO, and John E. Bryson and Gary L. Wilson, who have affiliations with the company, because of the board's lack of independence. The fund owns 35,000 shares.
Separately, the $59.7 billion Ohio Public Employees Retirement System, Columbus, announced today it will withhold its votes for Mr. Eisner. The system owns roughly 4.7 million Disney shares.