This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Disney's Board Carries the Day This Time

Disney (DIS - Get Report) shareholders sent a message to the company's board Friday: Nearly all is forgiven.

Each of the company's 12 directors received the support of at least 92.2% of voting stockholders for their re-election to the company's board, it was announced at the media and entertainment conglomerate's annual meeting Friday.

The ballot, tallied from proxies representing nearly 88% of shares eligible to vote, comes a year after an unprecedented 45% of votes were withheld for CEO Michael Eisner.

Criticism of Eisner -- which came from multiple sources for a variety of reasons -- climaxed in Eisner's loss of his post as chairman of Disney's board immediately after the contentious shareholder meeting last March.

Eisner was replaced as chairman by George Mitchell, who himself received "withhold" votes from nearly 26% of voting shareholders.

Criticism of Eisner and the rest of Disney's board this year -- both leading up to the shareholder meeting in Minneapolis and at the shareholder meeting before the preliminary board election results were announced -- was muted.

When the company opened up discussion on the directors' election at the meeting Friday, the only speaker was perennial gadfly and irritating microphone hog Evelyn Y. Davis. In her characteristically meandering comments, the shareholder announced she was voting for all directors.

Before the meeting, disgruntled former directors Roy Disney -- Walt's nephew -- and Stanley Gold announced that they were withholding their votes for the complete board, though they were not campaigning to have others do so as well.

Last year, Disney and Gold targeted Eisner and Mitchell in a no-confidence campaign, going so far as to hold an anti-Eisner pep rally the day before the meeting. Gold also hammered away at Eisner and the rest of the board during the actual meeting last year.

Though only 7.8% of shareholders withheld votes for Eisner this year, according to the preliminary proxy tally offered at the meeting, he still proved to be the least popular of the directors on the board. Second place honors went to Mitchell, from whom 6.9% of votes were withheld.
1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
DIS $101.88 0.00%
AAPL $112.76 0.00%
FB $89.43 0.00%
GOOG $618.25 0.00%
TSLA $249.06 0.00%

Markets

Chart of I:DJI
DOW 16,528.03 -114.98 -0.69%
S&P 500 1,972.18 -16.69 -0.84%
NASDAQ 4,776.5080 -51.8170 -1.07%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs