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AFL-CIO Opposes Steve Jobs’s Reelection To Disney Board

The AFL-CIO is opposing Steve Jobs’ reelection to Disney’s board of directors.
The AFL-CIO, which holds about 3.8 million Disney shares, says Jobs’ poor health, plus his job as CEO of Apple, make him a bad choice for Disney’s board. Jobs is likely to be reelected at Disney’s annual meeting on Wednesday.
Jobs is the largest individual sharholder with 7% of Disney’s stock, awarded after the 2006 purchase of Pixar.
The union isn’t the only group opposing Jobs. It is joined by an institutional investment group that is also questioning Jobs’s reelection to the Disney board because of his health.
Institutional Shareholder Services notes that Jobs has attended less than 75% of board meetings in the last three years, and wonders if Jobs should be reelected.
“Jobs’ poor attendance in three of the past four years, and recent leave of absence from his primary employer, raises questions about his ability to fulfill his responsibilities as a director of the company,” ISS wrote in a note to shareholders.
ISS stopped short of rejecting Jobs but said shareholders deserve greater disclosure about his ability to function as a director.