Apple chief Jobs to stand for Walt Disney board re-election

Apple chief Steve Jobs,who has taken a five-month break from the IT major on health grounds,will be contesting for re-election...

Written by Press Trust Of India | New York | Published:January 19, 2009 11:27 pm

Apple chief Steve Jobs,who has taken a five-month break from the IT major on health grounds,will be contesting for re-election to the board of Walt Disney. The 53-year-old Jobs is a board member of Walt Disney since 2006 and is also one of the largest shareholders with over seven per cent stake in the media and entertainment firm.

In recent months,speculation was rife about the health of Jobs,who had successfully undergone a surgery for pancreatic cancer. There are also rumours that his failing health might even force the retirement of the iconic chief. The new 12-member board of Walt Disney would be elected during the annual shareholders meeting on March 10.

In a proxy statement on Friday,Walt Disney said Jobs would be among the directors seeking re-election to its board. Following the buyout of Pixar,an animation firm run by Jobs,he became a director of Walt Disney in 2006.

Earlier this week,Jobs in a letter to Apple’s employees wrote,“In order to take myself out of limelight and focus on my health,and to allow everyone at Apple to focus on delivering extraordinary products,I have decided to take a medical leave of absence until the end of June”.

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