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January 06, 2005
Disney Permanently Separates CEO, Chairman Jobs
Walt Disney Co's board said on Thursday it has made permanent the policy to separate the roles of chief executive and chairman, responding to criticism and requests from shareholders. The board amended corporate governance guidelines to read, "the chairman of the board shall be an independent director unless the board concludes that the best interests of shareholders would otherwise be better served," and to require a written explanation in proxy materials if the two jobs were held by a single person.