Steve Jobs to stand for re-election to Disney's board
Although complicated health issues have forced Steve Jobs into a 6 month leave from Apple, he's seemingly confident in his ability to serve on Disney's Board of Directors, where he'll be standing for reelection come March.
Jobs has been a member of Disney's board ever since the entertainment conglomerate purchased Pixar back in the spring of 2006. At the time, his 50.6 percent controlling stake in the animation studio netted him more than $4 billion in Disney shares, making him the company's largest shareholder.
The Apple co-founder receives no compensate for his role at Disney, where he's also believed to serve as a special advisor to chief executive and close personal friend Bob Iger on technology-related matters.
However, Jobs? decision to stand for re-election to the Disney board just days after stepping aside at Apple is drawing some concern from corporate governance experts, according to the Financial Times.
"A directorship is not an honorary position,? Charles Elson, professor of corporate governance at the University of Delaware, told the paper. "If he?s said he can?t run Apple, how on earth can he [stand for the Disney board again]??
Elson added that non-executive directors of large public companies need to be able to devote at least 250 hours a year to the position.
Disney, which reportedly declined to comment on Jobs' decision to seek another term as a board member, has been one of Apple's stalwart allies in its efforts to push video content into the digital age.
Prior to purchasing Pixar, Disney inked a landmark deal to sell its hit ABC television shows over iTunes and later followed up as the first major Hollywood studio to commit its movie library to the digital download service. Since then, Disney has gone on to sell millions of movies and tens of millions of TV shows through iTunes.
In related news, Bloomberg on Friday cited "people who are monitoring [Jobs'] illness" as saying he is considering a liver transplant as a result of complications that followed his pancreatic cancer treatment in 2004.
When reached by phone, Jobs refused to comment further on his health and pleaded for some privacy.
"Why don?t you guys leave me alone -- why is this important?," he told Bloomberg.
Jobs has been a member of Disney's board ever since the entertainment conglomerate purchased Pixar back in the spring of 2006. At the time, his 50.6 percent controlling stake in the animation studio netted him more than $4 billion in Disney shares, making him the company's largest shareholder.
The Apple co-founder receives no compensate for his role at Disney, where he's also believed to serve as a special advisor to chief executive and close personal friend Bob Iger on technology-related matters.
However, Jobs? decision to stand for re-election to the Disney board just days after stepping aside at Apple is drawing some concern from corporate governance experts, according to the Financial Times.
"A directorship is not an honorary position,? Charles Elson, professor of corporate governance at the University of Delaware, told the paper. "If he?s said he can?t run Apple, how on earth can he [stand for the Disney board again]??
Elson added that non-executive directors of large public companies need to be able to devote at least 250 hours a year to the position.
Disney, which reportedly declined to comment on Jobs' decision to seek another term as a board member, has been one of Apple's stalwart allies in its efforts to push video content into the digital age.
Prior to purchasing Pixar, Disney inked a landmark deal to sell its hit ABC television shows over iTunes and later followed up as the first major Hollywood studio to commit its movie library to the digital download service. Since then, Disney has gone on to sell millions of movies and tens of millions of TV shows through iTunes.
In related news, Bloomberg on Friday cited "people who are monitoring [Jobs'] illness" as saying he is considering a liver transplant as a result of complications that followed his pancreatic cancer treatment in 2004.
When reached by phone, Jobs refused to comment further on his health and pleaded for some privacy.
"Why don?t you guys leave me alone -- why is this important?," he told Bloomberg.
Comments
If a liver transplant were genuinely on the cards he'd have to have had the Reality Distortion Field turned all the way up to eleven to not want to break from Disney too. Right?
Priceless Jobs.
WALL-E was embarrassing
I was disappointed in this too following Ratatouille.
K
I love his quote. "Why don’t you guys leave me alone"
Priceless Jobs.
READ PLEEZ:
http://executivesuite.blogs.nytimes....jobs&st=cseYOu
WALL-E was embarrassing
Really? I thought it was a wonderful piece. Perhaps a bit long-running for the story it told, but something special nevertheless.
WALL-E was embarrassing
Why do you say that- it was one of the most cirically acclaimed films of last year.
"A directorship is not an honorary position,” Charles Elson, professor of corporate governance at the University of Delaware, told the paper. "If he’s said he can’t run Apple, how on earth can he [stand for the Disney board again]?”
This is why we don't let professors out into the real world, or let them handle sharp knives or complicated machinery.
I can't believe the inability to understand the stress and strains of duty for a CEO vs. a guy sitting on a board.
This is even worse than I would expect from a professor, but I guess the University of Delaware must be really weak in their business degree department.
I hope his students get a discount.....
WALL-E was embarrassing
respectfully, you really thought it was embarrassing? but how come?
i thought wall-e was a very well executed comedy and adventure sans dialogue until the climax of the story. it was captivating for many other adults and children, and it was not necessary to understand english to follow the story.
I was disappointed in this too following Ratatouille.
K
On the contrary- I thought Ratatouille rather juvenile and derivative.
Wall-E on the other hand was rather insightful and provocative.
He'll stand Elson........and later this year he'll stand down as Apples CEO,an become Chairman of Apples Board.
Elson added that non-executive directors of large public companies need to be able to devote at least 250 hours a year to the position.
Gee.... less than and 1 hour a day Elson .....that's tuff huh
....then go to lunch.
This is why we don't let professors out into the real world, or let them handle sharp knives or complicated machinery.
I can't believe the inability to understand the stress and strains of duty for a CEO vs. a guy sitting on a board.
This is even worse than I would expect from a professor, but I guess the University of Delaware must be really weak in their business degree department.
I hope his students get a discount.....
Reminds me of a Prof that was trying to teach us how become wealthy.
Course he was only makin about 25,000 teaching....
In related news, Bloomberg on Friday cited "people who are monitoring [Jobs'] illness" as saying he is considering a liver transplant as a result of complications that followed his pancreatic cancer treatment in 2004.
When reached by phone, Jobs refused to comment further on his health and pleaded for some privacy.
"Why don?t you guys leave me alone -- why is this important?," he said.
I have the same age as Steve Jobs, just 2 months younger. His pancreatic cancer, together with 58 year old actor Patrick Swaze's own pancreatic cancer, got me thinking on how fragile life is.
Steve Jobs was born the same year as myself. Even though he is a billionnaire and a legend, Steve Jobs' life was turned around overnight by pancreatic cancer. Just imagine the pain, the anguish, the 9 month's wait before the first surgery in 2004, the second, secret would be surgery in 2008 and, now, a third surgery that could involve a liver transplant.
Am I the only one to equate a liver transplant with a desperate situation? Am I the only one to believe that Steve Jobs could be dead within 2 years? If the situation is so serious, why doesn't Apple, Steve Jobs and Disney stop the pretense?
I would have wished for Steve Jobs to retire and enjoy the tremendous wealth he has gained. His retirement is well deserved and he could leave Apple with the recognition that he has done everything that he could do for Apple. Instead, the half truths, and the pretense that he will come back, that he will get elected to the Apple and the Disney Board of directors.
Something just doesn't add up.
P.S.: Maybe, it's the Bloomberg report which is inaccurate.
P.P.S.: On further thinking, some heart and lung transplant patients can live 20 or 25 years. This would be the difference between cancer and transplant patients. A transplant patient could die from an infection, but otherwise, his life expectancy could go beyond the 2 to 5 years of cancer patients. I wish Steve Jobs well. May he enjoy a peaceful and long retirement.
Although I wished the whole movie was more like the first part and did away with all the humans that was introduced in the latter half.
WALL-E was embarrassing
I am not sure I would go that far but it definitely was the worst movie Pixar has done to date.
-kpluck
He is enjoying his wealth NOW! He does what he wants when he wants and has enough wealth to say F*uk you. He ain't gonna lay on no beach. He runs a mulit million dollar company. He creates, he innovates Apple is Disneyland for him. He was a millionare when he left Apple the first time.
Wad he do..... start another company.
You don't work to retire........ remember
" Life's a bitch and them you don't die."
WALL-E was embarrassing
WALL-E was a success nevertheless: http://www.imdb.com/chart/top?tt0910970 #37 on the top250 on IMDB.. that's pretty amazing
Wad he do..... start another company.
You don't work to retire........ remember
" Life's a bitch and them you don't die."
same here that's what I think Steve is. He's not the sitting around relaxing retirement kind of person. He likes to work!
I am as big of an Apple fan as the next guy, but I think it's horrible of Appleinsider to have attempted to extract a statement from Jobs. The man deserves some privacy. I thought the mac community was more genteel than this.
It says Bloomberg contacted him not anyone from AI.
I think the NYT article is appalling. Presidents, celebrities etc all have a right to personal privacy at the very least concerning such personal matters as their own life.
Assume for a second that he had a recurrence of cancer, would anyone want the press knocking down his door when he is coming to terms with the fact he would die? To harass someone who has achieved so much, in their time of grief or recovery is just plain sick.
People who claim they have a right to know simply because they have a shareholding in the company are equally if not more sick. Just because you gamble away some of your money doesn't give you part ownership of an individual.
If Jobs never came back, Apple wouldn't shut their doors and close down. The worst that's going to happen is that the stock price takes a bit of a hit and that's the risk you take when you gamble with your money. Nobody owes you a safety net.