Investors Wonder Why Steve Jobs Isn't At More Disney Board Meetings

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Man, Steve Jobs just can’t catch a break. The man has been on a medical leave since January, yet Wall Street wants his blood. At the recent Apple shareholders meeting, there was a referendum from shareholders that would of forced the Apple Board to disclose their plans for life after Jobs. Now, Jobs’ other job – a corporate director at Disney, is starting to give him flak. Two major financial firms that hold Disney stock have let it be known that they’re going to plan to dethrone Jobs from the Apple Board of Directors, citing a lack of involvement in the company’s activities.

According to the Wall Street Jorunal, firm Institutional Shareholder Services – which owns Disney stock, wrote this:

Jobs’ poor attendance in three of the past four years, and recent leave of absence from his primary employer, raises questions about his ability to fulfill his responsibilities as a director of the [Disney] company.

However, they still encourage shareholders to reelect all Disney corporate directors. The plan of action from Glass Lewis & Co. is much more serious. That firm plans to oppose Jobs’ reelection to the Disney board. Glass says that Jobs showed up for less than 75% of the Disney board meetings in 2010. According to the WSJ, that’s the third time in four years that Jobs has failed to attend 75% of the board meetings.

However, Jobs has a lot of power of Disney. Remember that Jobs was the owner of Pixar and following the Disney acquisition of Pixar – Jobs ended up with a whopping 7% of all Disney stock and a seat on the Board of Directors. He’s still the largest shareholder of Disney stock to this day.

Will Jobs get booted from the Disney board? It seems that the public is running out of patience for all these unknown medical leaves that the man keeps taking.