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Disney shareholders back exec compensation plan

[March 07, 2013]  PHOENIX (AP) -- The Walt Disney Co. says its shareholders voted in favor of the company's board member recommendations and executive compensation plan at the entertainment company's annual meeting.

On Wednesday shareholders re-elected all 10 members to the board. They also supported the company's existing executive compensation plan and its outside auditor. Shareholders also rejected two proposals from shareholders regarding proxy access and the potential separation of the CEO and Chairman roles once current Chairman and CEO Robert Iger leaves the company.

Disney also released the first model image of Shanghai Disneyland. This project is scheduled to open at the end of 2015.

Disney shares fell 12 cents to close regular trading at $56.36 and fell another 4 cents in after-hours trading.

[Associated Press]

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