By Dawn Chmielewski and Lisa Richwine
LOS ANGELES (Reuters) – Walt Disney Co shareholders supported the 11 nominees to the company’s board of directors including Chief Executive Bob Iger and Chairman Mark Parker, according to vote tallies announced at the company’s annual shareholder meeting on Monday.
Parker, the executive chairman of Nike and its former chief executive, replaces the retiring chairman, Susan Arnold.
Shareholders rejected a proposal backed by the National Legal and Policy Center for Disney to provide an annual report on its reliance on China for raw materials, finished products, theme park revenues and labor. In a 27-page document supporting its proposal, the group accused Disney of “repeated capitulation” to the Chinese government “to retain access to Chinese audiences.”
Disney had urged shareholders to vote against the proposal, saying the company already complies with extensive reporting requirements to keep investors informed, and that the board provides regular oversight of its business.
Voters also turned down a shareholder proposal that called on Disney to provide more information about its charitable contributions. The company said it discloses its donations through Disney’s annual corporate social responsibility report, and such a measure was unnecessary.
(Reporting by Lisa Richwine; editing by Jonathan Oatis)
