DENVER--(BUSINESS WIRE)--
Shareholders of The Walt Disney Company (NYSE:DIS) at the 2017 Annual Meeting today elected 11 members of the Board of Directors and supported Board recommendations on the Company’s auditor and the advisory vote on executive compensation.
Disney Chairman and Chief Executive Officer Robert A. Iger welcomed shareholders to the meeting at the Bellco Theatre at the Colorado Convention Center in Denver and introduced independent Lead Director Orin C. Smith and the other members of the Board of Directors.
“Creative success drives opportunity across our entire company,” Mr. Iger told shareholders. “Over the last five years, we’ve delivered annualized growth of 14% in net income and 18% in earnings per share. To give you an even broader perspective on our long-term performance, from fiscal 2006 through fiscal 2016 we delivered a total shareholder return of 350%, far outperforming the 123% return delivered by the S&P 500 during the same period.”
Based on preliminary results, all Disney Directors standing for election were re-elected to the Board:
- Susan E. Arnold
- John S. Chen
- Jack Dorsey
- Robert A. Iger
- Maria Elena Lagomasino
- Fred H. Langhammer
- Aylwin B. Lewis
- Robert W. Matschullat
- Mark G. Parker
- Sheryl K. Sandberg
- Orin C. Smith
Shareholders ratified the appointment of PricewaterhouseCoopers LLP as the Company’s independent accountants for the fiscal year ending September 30, 2017. They also approved the advisory resolution on executive compensation, along with a related resolution calling for such advisory votes to occur every year.
Shareholders agreed with the Board in rejecting two shareholder proposals, one regarding lobbying disclosure and the other regarding the Company’s proxy access bylaw.
Final voting tallies from this year’s annual meeting 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 within a week.
About The Walt Disney Company:
The Walt Disney Company, together with its subsidiaries and affiliates, is a leading diversified international entertainment and media enterprise with four business segments: media networks, parks and resorts, studio entertainment, and consumer products and interactive media. Disney is a Dow 30 company and had annual revenues of $55.6 billion in its Fiscal Year 2016.
Forward Looking Statements:
Certain statements in this press release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are made on the basis of management’s views and assumptions regarding future events and business performance as of the time the statements are made. Management does not undertake any obligation to update these statements. Actual events may differ materially from those expressed or implied. Such differences may result from actions taken by the Company, as well as from developments beyond the Company's control, including international, political, health concern and military developments and changes in domestic and global economic conditions that may affect our businesses generally. Additional factors are set forth in the Company's Annual Report on Form 10-K for the year ended October 1, 2016 under Item 1A, "Risk Factors," and subsequent reports.
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