March 10th, 2009
Jobs not at Disney meeting; Shareholders talk contingencies
Update: Apple CEO Steve Jobs didn’t turn up after all at the Disney shareholder meeting, but he was a frequent topic of discussion. The biggest worry: Jobs’ 7.4 percent stake in the company would hit the open market if something happened to him.
Reports of Jobs appearance at the Disney meeting took on a Howard Hughes-like aura.
According to Marketwatch Jobs reportedly made an appearance at the Disney’s shareholders’ meeting today.
As the Webcast went on Marketwatch corrected. Calls to Apple and Disney weren’t immediately returned.
Nevertheless, Jobs appeared to be re-elected to its board. Jobs was renominated to Disney’s board back in January, despite the medical problems that have forced him to hand over the reins at Apple. The board re-elected him–along with the company’s other directors–at this morning’s meeting and there were no objections to Disney’s slate. Disney webcast its annual shareholder meeting.
A shareholder wished Jobs well with his health, but noted that he was worried about contingency plans if the Apple CEO’s 138 million shares were to hit the open market. From Disney’s proxy statement:
CEO Bob Iger said: “We have not thought at all about the contingency for whether Steve Jobs is not on our board. It’s not something we worry about.”
Another shareholder said he hoped Jobs becomes healthy enough to dance on TV–a reference made to Steve Wozniak’s moves on Dancing with Stars.
Larry Dignan contributed to this post.
Also see:
Apple director: ‘no change’ in Jobs’ plans
Apple roundup: Jobs-less meeting, to netbook or not, and an iPhone rumor
Sam Diaz is a senior editor at ZDNet. See his full profile and disclosure of his industry affiliations.
Subscribe to Between the Lines via Email alerts or RSS.
| 03/10/09
