Providence Capital Announces Disney Shareholder Meeting
09/11/2002 09:30 EDT
NEW YORK (PRNewswire) -- Providence Capital announces an institutional shareholder meeting regarding Walt Disney Company (NYSE
IS). All interested shareholders are cordially invited to attend in person or via teleconference.
Tuesday, September 17th, 2002
Time: 4:15 p.m. (EDT)
Place: Providence Capital
730 Fifth Avenue
New York, New York 10019
RSVP at 212-888-3200
Providence Capital's meeting will precede Disney's September Board meeting at which Disney's Board will discuss changes in its own structure and composition, as well as other corporate governance issues.
"In view of Disney's recent stock performance," said Bert Denton, President of Providence Capital, "we believe the Board would welcome the views of its largest stockholders prior to instituting changes in the Company's governing body."
"Our objective," Denton said, "is to provide a forum for Disney's major shareholders to discuss their views on a number of critical issues which have undermined investor confidence in Disney's stock. Items on the agenda will include: Disney's corporate governance, and the adoption of best practices; reconstitution of the Board with shareholder sponsored nominees; a CEO succession plan, and operational improvement in a weak economy."
In an August 9, 2002 SEC filing, the Company indicated that four of its independent directors had relatives who were employed by Disney. The Company will review steps necessary to ensure compliance with the new SEC and NYSE rules for independence, stating that "These steps will include a reduction in the Board's size, and reorganization and reduction in size of Board committees."
Providence Capital, which is led by President Herbert A. Denton, specializes in shareholder matters with a mission to realize values independent of the stock market. Recent institutional shareholder meetings of this nature have included Tyco International Ltd., and ICN Pharmaceuticals, Inc.
Mr. Denton is currently a Director of PolyMedica Corporation and Mesa Air Group, Inc.
09/11/2002 09:30 EDT
NEW YORK (PRNewswire) -- Providence Capital announces an institutional shareholder meeting regarding Walt Disney Company (NYSE
IS). All interested shareholders are cordially invited to attend in person or via teleconference.Tuesday, September 17th, 2002
Time: 4:15 p.m. (EDT)
Place: Providence Capital
730 Fifth Avenue
New York, New York 10019
RSVP at 212-888-3200
Providence Capital's meeting will precede Disney's September Board meeting at which Disney's Board will discuss changes in its own structure and composition, as well as other corporate governance issues.
"In view of Disney's recent stock performance," said Bert Denton, President of Providence Capital, "we believe the Board would welcome the views of its largest stockholders prior to instituting changes in the Company's governing body."
"Our objective," Denton said, "is to provide a forum for Disney's major shareholders to discuss their views on a number of critical issues which have undermined investor confidence in Disney's stock. Items on the agenda will include: Disney's corporate governance, and the adoption of best practices; reconstitution of the Board with shareholder sponsored nominees; a CEO succession plan, and operational improvement in a weak economy."
In an August 9, 2002 SEC filing, the Company indicated that four of its independent directors had relatives who were employed by Disney. The Company will review steps necessary to ensure compliance with the new SEC and NYSE rules for independence, stating that "These steps will include a reduction in the Board's size, and reorganization and reduction in size of Board committees."
Providence Capital, which is led by President Herbert A. Denton, specializes in shareholder matters with a mission to realize values independent of the stock market. Recent institutional shareholder meetings of this nature have included Tyco International Ltd., and ICN Pharmaceuticals, Inc.
Mr. Denton is currently a Director of PolyMedica Corporation and Mesa Air Group, Inc.