Shareholders Re-Elect All 10 Directors at the Walt Disney Company Annual Meeting

DAPs Magic Disney News – PRESS RELEASE 

TheWaltDisneyCompany

PHOENIX, Ariz. March 6, 2013— Shareholders of The Walt Disney Company (NYSE:DIS) at the 2013 Annual Meeting today elected all 10 members of the Board of Directors and supported Board recommendations on the Company’s auditor, its executive performance plan and the advisory vote on executive compensation, based on preliminary results.

Disney Chairman and Chief Executive Officer Robert A. Iger welcomed shareholders to the meeting at The Orpheum Theatre in Phoenix and introduced independent Lead Director Orin C. Smith, formerly President and Chief Executive Officer of Starbucks Corporation, and the other members of the Board of Directors. Noting Disney’s blockbuster creative and business accomplishments in 2012, Mr. Iger said, “All of this success across so many of our businesses led to another record financial performance for The Walt Disney Company. In Fiscal 2012, we increased revenue by 3% to a record $42 billion, which led to a record $5.7 billion in net income, up 18% over the year before. And our earnings per share were up 24%, setting a new record of $3.13.” Disney’s market capitalization hit a record $102 billion, Mr. Iger told shareholders.

“We’re very excited about what’s ahead—especially with our recent acquisition of Lucasfilm and Star Wars,” Mr. Iger said. “Lucasfilm joins Disney, Pixar, Marvel, ESPN and ABC in our unprecedented collection of amazing brands.”

Mr. Iger also released the first model image of Shanghai Disneyland, which is scheduled to open at the end of 2015.

Based on preliminary results, all Disney Directors were re-elected to the Board:

  • Susan E. Arnold
  • John S. Chen
  • Judith L. Estrin
  • Robert A. Iger
  • Fred H. Langhammer
  • Aylwin B. Lewis
  • Monica C. Lozano
  • Robert W. Matschullat
  • Sheryl Sandberg
  • Orin C. Smith

 

Shareholders ratified the appointment of PricewaterhouseCoopers LLP as the Company’s independent accountants for the fiscal year ending September 28, 2013, and approved terms of the Amended and Restated 2002 Executive Performance Plan and the advisory resolution on executive compensation.

Shareholders agreed with the Board in rejecting two shareholder proposals, regarding proxy access and the future separation of the Chairman and Chief Executive Officer roles.

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 the next week.

About The Walt Disney Company

The Walt Disney Company, together with its subsidiaries and affiliates, is a leading diversified international family entertainment and media enterprise with five business segments: media networks, parks and resorts, studio entertainment, consumer products and interactive media. Disney is a Dow 30 company and had annual revenues of more than $42.3 billion in its Fiscal Year 2012. Disney’s market capitalization exceeds $100 billion.

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 our views and assumptions regarding future events and business performance as of the time the statements are made and we do 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 September 29, 2012 under Item 1A “Risk Factors.”

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