Disney Revamps Board Guidelines

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The Walt Disney Co.'s board of directors redefined its criteria for independent directors Tuesday as part of new guidelines it approved during an annual review, AP reported.

Following the move, Edison International chairman and CEO John Bryson joined Disney chairman and CEO Michael Eisner and president Robert Iger on the list of nonindependent directors, AP said. Bryson’s wife is an executive for Lifetime Television, which is 50%-owned by Disney.

Later this month, Disney’s board will nominate a slate of directors to stand for election at the company's annual March shareholders' meeting in Philadelphia, AP said. Directors Thomas Murphy and Raymond Watson are expected to retire in March, dropping the board's number to 11.

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