Disney Dissidents Say CEO Eisner Must Go
Reuters
Thursday, March 4, 2004; 9:16 PM
LOS ANGELES (Reuters) - Former Walt Disney Co.
directors Roy Disney and Stanley Gold, who have spearheaded a
campaign against Chief Executive Michael Eisner, on Thursday
called the board's decision to allow him to remain Disney's top
executive "a blatant rejection of shareholder will."
At Disney's shareholder meeting on Wednesday, 43 percent of
shares were voted against Eisner. The company's board responded
by stripping him of his title as chairman and electing George
Mitchell, formerly Disney's presiding director, to that post.
But allowing Eisner to remain CEO marked "a blatant
rejection of shareholder will, a betrayal of trust and a
significant step backwards for substantive governance reform in
America's capital markets," the former directors said.
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