Is Steve Jobs about to lose his position at Disney?

Institutional Shareholder Services of Walt Disney Co. are starting to consider whether of not if Steve Jobs is capable of holding his current position of being a member of the foundation’s board of directors at Disney. Due to his health issues within the past couple years that included his constant battle with pancreatic cancer along with his 2009 liver transplant. On top of all of that he has recently been on a leave of absence due to his physical state, missing several board meetings. Of course all of these absences were understood and excused on account of the unfortunate circumstances Jobs has been under, however ISS has demanded a more detailed explanation behind the pattern.

“Jobs’s poor attendance in three of the past four years, and recent leave of absence from his primary employer, raises questions about his ability to fulfil his responsibilities as a director of the company,” ISS said in a statement to shareholders.

Despite Steve Jobs’ health problems, Deputy director Brandon Rees of the AFL-CIO office of investment voted against Steve Job’s being a member of the foundation’s board of directors at Disney continuing any further. He says that his involvement with Apple is an additional conflict of interest with his position on the Disney board, that Steve Jobs has his plate too full.

“We would consider that as a reason to vote against a director,” Rees explained.

Other members of the foundation’s board of directors at Disney and should be and were understanding of Jobs’ conditions. However, the way I see it now it’s not whether or not they have compassion for Jobs, it’s how much his absence has hurt Disney. I do agree with Rees, Disney can only have so much compassion before their decisions of keeping Jobs on the board start to harm Disney. In the best interest of Disney, I believe that Jobs should be replaced. This is hard to say, knowing all that he has done for Pixar, let alone Disney. But business is business. Because of his incredible talents, Steve Jobs can never be replaced, but someone else must take his position for the good of the company.


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