Two shareholder advisory firms are disputing Apple CEO Steve Jobs' re-election as corporate director at Walt Disney because of his poor attendance record.
According to reports, Glass Lewis & Co. and Institutional Shareholder Services Inc. have cited attendance as an issue. Jobs, who is Disney's largest shareholder, had attended less than 75% of board meetings in 2010.
"We note that this is the third time in four years where Mr. Jobs has been unable to meet this attendance threshold," said Glass Lewis in a report.
PR and communications professionals agree shareholder activism has increased over the years, placing more due diligence on boards and C-suite executives.
The criticism of Jobs' seat comes as Disney holds its annual meeting today in Salt Lake City. Shareholder voting results are expected to be announced at the event.
In January, Jobs announced an indefinite medical leave of absence from Apple. The leave is the second for the CEO in two years, which prompted an Apple stockholder to propose a CEO succession plan last month. It was rejected by shareholders.