Friday, September 10, 2004

My Way News : Disney Confirms Eisner to Leave in 2006

LONDON (AP) - Michael Eisner, who led the Walt Disney Co. to huge success in the 1980s but more recently clashed with dissident stockholders including the founder's family, will leave the company in 2006 when his contract expires, the company said Friday.

In a letter to the Disney board, dated Thursday and released by Disney's London spokeswoman, Joyce Lorigan, Eisner said: "I plan to retire from my role as Chief Executive Officer of the company upon the conclusion of the term of my employment agreement on Sept. 30, 2006."

Eisner's departure will end a turbulent two-decade relationship with the media giant.

"I know it has been a very challenging time for the board members during this period, and I am most grateful for all of the time and effort, consideration and support, and concern for the company that all of you have demonstrated," Eisner said in his letter.

Over the past year, Eisner's leadership abilities have been questioned by former Disney board members Roy E. Disney, the nephew of founder Walt Disney, and Stanley Gold, who have led a campaign against Disney through their Web site, SaveDisney.com. The former board members said Eisner was responsible for turning the company in the wrong direction. Walt Disney's only surviving child, Diane Disney Miller, also called on Eisner to step down.

Eisner also has lost confidence among investors, notably the leaders of pension funds in six states that have urged Disney to become more independent and more aggressive in finding a successor for Eisner.

(click on the title for the whole article)

2 Comments:

At 8:43 PM, Blogger Paul Merrill said...

See ya, Michael! Don't let the door hit ya where the dog shoulda bit ya!

 
At 12:25 PM, Anonymous Anonymous said...

aww, I'm going to miss Eisner, he did a lot of good like banning Moore's propagandanistic garbage movie.

 

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