Disney shareholders have turned down a proposal to separate the chairman and CEO positions following the departure of Robert Iger, who currently holds both jobs. Sixty-five percent of shareholders voting in the company's annual general meeting turned down the measure.
Iger plans to retire as CEO in March 2015. His contract keeps him in the chairman job until the end of June 2016.
Meanwhile, all 10 existing board members were reelected in the AGM. None received less than 86.6% of the vote; Iger's tally was 98.3%. Additionally, the company unveiled the first model image of Shanghai Disneyland, the latest iteration of its popular theme park. It is slated to open at the end of 2015.
The article Disney Shareholders Reject Chairman/CEO Separation Proposal originally appeared on Fool.com.
Fool contributor Eric Volkman has no position in Disney. The Motley Fool recommends and owns shares of Disney. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.