Walt Disney Co. shareholders re-elected all 12 directors, including CEO Michael D. Eisner and Chairman George J. Mitchell, each by at least 92.2% of the voting shares, according to preliminary results announced today at the Burbank, Calif.-based company's annual meeting in Minneapolis. Mr. Eisner received 7.8% in withhold votes, and Mr. Mitchell received 6.8% Some 7.8% of the vote was withheld for one or more of the directors.
An anti-greenmail shareholder proposal was adopted by 55.1% of the voting shares. Mr. Eisner said the board will study the non-binding proposal and report to shareholders. In addition, a board-sponsored stock incentive plan was approved by 78.6% of the vote.
A New York City Retirement Systems proposal was defeated 79.9% to 7.8%, with the rest of the vote abstaining; the proposal asked the company to report to shareholders on the adherence by Disney suppliers in China to company codes of conduct and labor standards of the Chinese government and the International Labor Organization.
PricewaterhouseCoopers' appointment as auditor was ratified by 97.5% of the vote.