Michael Eisner should not hold the positions of both chairman and chief executive officer of Walt Disney, according to Ohios public pension system, or OPERS. Therefore, the company has joined other pension funds in saying it will not vote for Eisner at Wednesdays shareholder meeting.
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"In order for the Disney board to exhibit their commitment to good corporate governance practices, the role of CEO and chairman of the board need to be split to increase board independence," said the systems corporate governance officer, Cynthia Richson.
Beside withholding its vote for Eisner, OPERS said it would say "no" to current Disney presiding director George Mitchell, and two members of Disneys governance and nominating committee, Gary Wilson and John Bryson.
