Disney makes governance change in front of its annual meeting

|By:, SA News Editor

Disney (DIS) amends its corporate governance rules in a move designed to pacify shareholder protests over the combination of the CEO and Chairman role.

In essence, the chairman will be an independent director unless the board votes to give one person both jobs and justifies it every year.

The California State Teachers Retirement System and other top investors have withdrawn a proposal to make it harder on the company to see its board candidate re-elected.

Disney's annual shareholder meeting is this afternoon.

SEC Form 14A