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Steve Jobs to remain on Walt Disney Co. board, report says

August 26, 2011 | 10:17 am

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Steve Jobs will remain on the Walt Disney Co.'s board of directors, after resigning as Apple's CEO on Wednesday, according to a report.

Upon officially stepping down from his post as Apple's chief executive this week, Jobs was named chairman of the tech company he co-founded.

An unnamed source at Disney, who wasn't cleared to speak publicly on the matter, told Bloomberg that Jobs' position at the media giant would be unaffected by the changes in his role at Apple.

Jobs is Disney's largest shareholder with a 7.4% stake in the company, Bloomberg said. He joined Disney's board after it bought Pixar Animation Studios for $7.4 billion in May 2006. Jobs purchased Pixar from George Lucas in 1986 for $10 million.

In an SEC filing, Disney said that Jobs was the member of its board that missed 75% of its board and committee meetings for the year ended in October 2010, according to Bloomberg, which also noted that per Jobs' request, he is not paid to be on the board.

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-- Nathan Olivarez-Giles

twitter.com/nateog

Photo: Steve Jobs, then Apple's CEO and current chairman, at an Apple event in March in San Francisco. Credit: Jeff Chiu / Associated Press

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