The Walt Disney Company announced today it will contribute Rmb 1 million to the China Youth Development Foundation (CYDF) to help rebuild schools devastated by a powerful earthquake in the western Chinese province of Qinghai.
“On behalf of The Walt Disney Company, I extend our deepest condolences to the people of China and hope our contribution can help the children and families affected by this terrible earthquake,” said Robert A. Iger, president and CEO, who announced the donation while visiting Shanghai.
Disney worked with the non-governmental CYDF after the devastating 2008 earthquake in Sichuan and Gansu provinces to build both temporary schools and to help in the long-term reconstruction of damaged facilities. The temporary schools have served as an important refuge for children and youth, providing them a nurturing environment where they could regain a sense of normality and continue their education.
“We believe CYDF is well positioned to provide immediate and effective aid to the communities in Qinghai during their time of need,” said Stanley Cheung, Executive Vice President and Managing Director, The Walt Disney Company, Greater China.
About The Walt Disney Company in China
The Walt Disney Company /quotes/comstock/13*!dis/quotes/nls/dis (DIS 36.20, +0.36, +1.00%) , together with its subsidiaries and affiliates, is a diversified international family entertainment enterprise with five business segments with over 137 000 employees. Our first animation screened in China in the 1930s and today our long association continues with offices in Beijing, Shanghai and Guangzhou with over 600 employees. Disney is a Dow 30 Company, had annual revenues of over US$36 billion in its most recent fiscal year, and a market capitalization of US$70.21 billion as of 15 April 2010.
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