Jobs Refuses Disney Board Compensation

LOS ANGELES, July 5: Apple’s CEO Steve Jobs has asked The
Walt Disney Company not to pay him the $65,000 annual salary he is entitled to
as a member of the company’s board of directors.

As a result, Disney has modified its director compensation
policy, wire reports indicate. Jobs secured a seat on Disney’s board after the
company acquired Pixar Animation Studios. Jobs is now Disney’s largest
shareholder with a stake valued at about $3.9 billion.

The move is not a new one for Jobs, who takes just $1 a year
for his position at the head of Apple.