Walt Disney Co. shareholders re-elected Apple Inc. CEO Steve Jobs to the Disney board, rejecting the views of proxy advisers who say health issues may impair his ability to serve.
Mr. Jobs was re-elected with 12 other nominees at Disney's shareholder meeting Wednesday in Salt Lake City, with 74% of the votes cast backing the group, according to a preliminary count. Mr. Jobs is Disney's largest shareholder with 7.3% of company shares.
The advisory firm Glass Lewis recommended investors withhold support for Mr. Jobs, citing his absence from meetings. Institutional Shareholder Services did not recommend rejection of Mr. Jobs, but said his attendance and “recent leave of absence from his primary employer, raises questions about his ability to fulfill his responsibilities as a director.”
“The Walt Disney Company considers itself fortunate to have Steve Jobs as a member of its board of directors,” company executives said Wednesday in an e-mailed statement.
Mr. Jobs has been on medical leave from Apple since Jan. 17, his third in the past seven years. He underwent surgery for pancreatic cancer in 2004 and had a liver transplant in 2009.