Who's the Leader of the Company that's Adored by You and Me?
Thursday March 4, 2004
M-I-C.... Not so fast Mouseketeers. In a stunning move, nearly half of the shareholders who cast ballots at Disney's annual meeting yesterday told M-I-C Michael Eisner, "See ya later." The stockholders withheld support for the embattled chairman and chief executive at the behest of Roy E. Disney, Walt's nephew, and his associate, Stanley Gold. The two are disaffected board members and ringleaders of the renegade "Save Disney" campaign to oust Eisner. In response, the Disney board voted to split Eisner's dual roles and anointed former Senate majority leader George Mitchell of Maine the company's chairman. (Can somebody tell me what the heck HE knows about running theme parks?) In his defense, Eisner pointed to improved earnings and stock performance as well as revitalized theme park attractions such as Epcot's Mission: Space and the upcoming Expedition Everest at Disney's Animal Kingdom. Ironically, the annual shareholder's meeting was held in Philadelphia, just a few blocks from the headquarters of cable TV giant and Disney suitor, Comcast.


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