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Steve Jobs expected to remain on Disney board

Steve Sande
Steve Sande|@stevensande|August 25, 2011 11:45 AM

The name Steve Jobs is synonymous with Apple, the company the man co-founded with Steve Wozniak and the relatively unknown Ronald Wayne. Fewer people remember that Jobs also has ties with Disney and has been on the board of directors of the entertainment giant for the past five years. Bloomberg.com reported last night that Jobs is expected to stay on the Disney board for the foreseeable future.

In 1986, during his exile from Apple, Jobs purchased Pixar Animation Studios from Lucasfilm and with his support as CEO, helped the studio begin making its string of highly successful animated feature films. Jobs sold Pixar to Disney in 2006 for $7.4 billion, which made him the largest single stockholder in Disney. His stake in the company is still huge -- Jobs owns a 7.4% stake in the Disney empire (about 138 million shares of stock).

Bloomberg also noted that Jobs was the only Disney board member who was unable to attend 75 percent of board meetings due to health considerations. At his own request, Jobs does not receive compensation in his role as a Disney board member.