The AFL-CIO, which holds about 3.8 million Disney shares, is opposing Steve Jobs’ reelection to Disney’s board of directors, reports “Cult of Mac” (http://macte.ch/Cv6JA).
The group says Jobs’ poor health, plus his job as CEO of Apple, make him a bad choice for Disney’s board. Jobs — the largest individual shareholder with 7% of Disney’s stock, awarded after the company’s purchase of Pixar in 2006 — is likely to be reelected at Disney’s annual meeting on Wednesday.
The union isn’t the only group opposing Jobs, notes “Cult of Mac.” Institutional Shareholder Services, an institutional investment group, is also questioning Jobs’s reelection to the Disney board because of his health. ISS says that Jobs has attended less than 75% of board meetings in the last three years, and wonders if Jobs should be reelected. ISS stopped short of rejecting Jobs but said shareholders deserve greater disclosure about his ability to function as a director, says “Cult of Mac.”