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Disney nominates 13 directors, says four leaving
Reuters, 01.27.03, 7:20 PM ET
BURBANK, Calif., Jan 27 (Reuters) - Walt Disney Co. (nyse: DIS - news - people) on Monday said its board of directors had nominated a slate of 13 existing directors for reelection, and said four members of the board will not stand for reelection.
In a statement, Disney said the four directors who will not stand for reelection at the company's annual meeting in March are Reveta Bowers, Sidney Poitier, Robert A.M. Stern and Andrea Van de Kamp.
Of the 13 directors renominated, Disney said, nine are independent outsiders.
The four nonindependent directors renominated are Chairman and Chief Executive Michael Eisner, President Robert Iger, Vice Chairman Roy Disney and Stanley Gold, who has ties to Roy Disney and has been one of the strongest instigators for changes in the company's strategy.
The company also said it will continue governance initiatives begun last year, including a succession plan for long-time chief executive Eisner.
Copyright 2003, Reuters News Service
Reuters, 01.27.03, 7:20 PM ET
BURBANK, Calif., Jan 27 (Reuters) - Walt Disney Co. (nyse: DIS - news - people) on Monday said its board of directors had nominated a slate of 13 existing directors for reelection, and said four members of the board will not stand for reelection.
In a statement, Disney said the four directors who will not stand for reelection at the company's annual meeting in March are Reveta Bowers, Sidney Poitier, Robert A.M. Stern and Andrea Van de Kamp.
Of the 13 directors renominated, Disney said, nine are independent outsiders.
The four nonindependent directors renominated are Chairman and Chief Executive Michael Eisner, President Robert Iger, Vice Chairman Roy Disney and Stanley Gold, who has ties to Roy Disney and has been one of the strongest instigators for changes in the company's strategy.
The company also said it will continue governance initiatives begun last year, including a succession plan for long-time chief executive Eisner.
Copyright 2003, Reuters News Service
