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It looks like the Disney shareholders have finally got their wish.
Michael Eisner will be stepping down as CEO in September and will be replaced by Robert Iger.
Let's hope that Iger has the sense to bring back Roy Disney and re-kindle the creative side of the organisation.
I just found this quote, seems they still have a long way to go!!
"Unfortunately, our concerns regarding this Board's process to replace Mr. Eisner were well-founded. We find it incomprehensible that the Board of Directors of Disney failed to find a single external candidate interested in the job and thus handed Bob Iger the job by default. We find it very telling that Mr. Mitchell refused to answer repeated questions about whether the entire Board had interviewed more than one external candidate. The Board has failed in what is clearly one of their most important responsibilities, the selection of the Company's CEO.
"The need for the Walt Disney Company to have a clean break from the prior regime and to change the leadership culture has been glaringly obvious to everyone except this Board. The scathing portrait painted by James Stewart in DisneyWar has been widely reported without serious challenge or contradiction. A Board that is so deaf and insular cannot be entrusted to provide independent stewardship to this valuable, unique institution.
"The selection of Bob Iger is yet another example of this Board's breach of faith. The pledge made by Chairman Mitchell to conduct a bona fide search was a ruse to avoid a contest at the 2005 annual meeting. Mr. Mitchell's approach to good governance is no better than a carny at the fair, enticing words but in the end the game is rigged. Disney Shareholders have been conned and their trust in this Board abused.
"Shareholders should seriously consider replacing this Board and starting anew."
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Source: Roy E. Disney and Stanley P. Gold
If anyone is interested in more information, it is available on www.SaveDisney.com
Mike and Kath.
Thanks Mike & Kath, I know a hubby who will enjoy the info on that site:)Course, he has to get me off this forum first!!!
<blockquote id="quote" class="ffs">quote:Originally posted by CarolAnn
Thanks Mike & Kath, I know a hubby who will enjoy the info on that site:)Course, he has to get me off this forum first!!!
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It is a very interesting site Carol, I have been a member since before I found this forum and they will even send you a free bumper sticker!!
I too am a member and put the bumper sticker on my suitcase, when I was at Disneyland Paris someone ripped it off!
We've been following this for a couple of years and as our daughter is a MAJOR shareholder in the company, also get the shareholder reports (and she even gets voting rights as well so can give her contribution).
When she was seventeen we bought her ONE share from a company, more as a joke than expecting to make her fortune since in one year (just the way the holidays worked out) we had been to Disneyland Paris, California and Florida. Amazing the power one share can bring you.
[msnsmile]
<blockquote id="quote" class="ffs">quote:Originally posted by Madabouttigger
I too am a member and put the bumper sticker on my suitcase, when I was at Disneyland Paris someone ripped it off!
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I wonder if all Disney employees are under strict instructions to remove such inpertinent items[msnwink]