13 Directors Elected At Walt Disney Co. Annual Meeting

Salt Lake City, Utah, March 23, 2011 — Shareholders of The Walt Disney Company (NYSE:DIS) at the 2011 Annual Meeting today elected 13 members of the Board of Directors and supported Board recommendations on the Company’s auditor, its stock incentive plan and advisory votes on executive compensation and on the frequency of advisory votes on executive compensation, based on preliminary results.

Shareholders also agreed with the Board in rejecting one shareholder proposal.

Disney Chairman John E. Pepper Jr. welcomed shareholders to the meeting at the Rose Wagner Performing Arts Center and introduced members of the Board of Directors. Mr. Pepper remarked that “2010 was a great year for The Walt Disney Company. It was a year of excellence — creatively, strategically and financially.” He commended Disney’s management team for successfully navigating a fast-changing media landscape and a difficult global economy while maintaining its strategic focus on delivering strong shareholder value and building for future growth.

“In Fiscal 2010 we delivered on each of our key strategic priorities — producing compelling creative content, using innovative technology to enhance our storytelling and expanding into promising international markets — to significantly grow our businesses,” said Robert A. Iger, President and CEO, The Walt Disney Company. “This year was an especially strong one for us creatively, with two $1 billion global box office films, Alice in Wonderland and Toy Story 3.”

Mr. Iger noted Disney’s strong financial performance. “For the year, net income increased 20% to $3.96 billion on a 5% rise in revenue to $38 billion and the total return delivered by Disney to shareholders was up nearly 24% — substantially more than the 14% return delivered during the same period by the S&P 500.

Based on preliminary results, all Disney directors were reelected to the Board:
# Susan Arnold
# John S. Chen
# John E. Bryson
# Judith L. Estrin
# Robert A. Iger
# Robert W. Matschullat
# Steve Jobs
# John E. Pepper Jr.
# Fred H. Langhammer
# Sheryl Sandberg
# Aylwin B. Lewis
# Orin C. Smith
# Monica C. Lozano

Shareholders also ratified the appointment of PricewaterhouseCoopers LLP as the Company’s independent accountants for the fiscal year ending October 1, 2011, and approved the 2011 Stock Incentive Plan, which increases the number of shares authorized to be issued under the Company’s plans.

Shareholders approved the advisory proposal on executive compensation and approved the Board’s recommendation that such votes be held annually.

Shareholders rejected the only shareholder proposal, relating to performance tests for restricted stock units.

Final voting tallies are subject to certification by the Company’s inspector of elections, and will be included in the Company’s report to be filed with the Securities and Exchange Commission by early next week.

Read more biz