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Disney makes governance change in front of its annual meeting

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  • The California State Teachers Retirement System and other top investors have withdrawn a proposal to make it harder on the company to see its board candidate re-elected.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