Disney Opposes Shareholder Proposals

Walt Disney Co. said it opposes shareholder proposals requiring it to report on its executive pay packages and overseas factories that make Disney-brand goods. The proposals will be voted on at Disney’s annual meeting Feb. 25. One proposal would require Disney to “be a leader” in the fight against sweatshops by ensuring that workers get adequate wages and work reasonable hours, promoting their right to organize and working with non-government groups to monitor conditions. Disney said it recognizes the issue is an important one, but it believes it already imposes strict conditions on its licensees to protect workers. The other proposal would require Disney to make a report that would compare its executives’ compensation with the pay of Disney contract workers domestically and in three low-wage countries, including Haiti. Disney said comparing the wages of its executives with manufacturing workers wouldn’t be productive.