The outcome was never in doubt, but all 10 directors on the ballot were re-elected to the board of The Walt Disney Company at Tuesday’s (3/13) annual shareholder meeting in Kansas City. As planned, the new board immediately elected CEO Bob Iger to also serve as Chairman, preparing for his retirement in 2016.
Since the 10 nominees were unopposed there was no doubt that all would be re-elected to the board. It will be several days until the vote tally is filed with the SEC and we’ll know how much impact Institutional Shareholder Services (ISS) had with its advice to clients to vote against the four members of the governance and nominating committee to protest Iger’s proposed dual role.
As Chairman, Iger succeeded John Pepper, who retired after serving seven years on the Disney board. As Iger was elected Chairman, the board also unanimously elected Orin Smith, former CEO of Starbucks, as independent lead director.