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Disney governance proposal squashed

A bid by Disney shareholders to split Bob Iger’s dual chairman and CEO role was defeated at the AGM on Wednesday [6].

The move followed recent reports that Iger received a $40m package in fiscal year 2012 and echoed earlier protests by opponents when former head Michael Eisner held both roles.

According to reports the AGM was conducted in a generally positive mood on the back of record stock prices.

Shareholders voted to re-elect all 10 members of the board. The directors including Iger are: Susan E Arnold, John S Chen, Judith L Estrin, Fred H Langhammer, Aylwin B Lewis, Monica C Lozano, Robert W Matschullat, Sheryl Sandberg and Orin C Smith.

Iger also unveiled the first model image of Shanghai Disney Resort ahead of the targeted late 2015 opening ceremony.

The resort will include Shanghai Disneyland, two themed hotels, a 46,000-sq m gross floor area retail, dining and entertainment venue, recreational facilities, a lake and parking and transportation hubs. 

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