BREAKING NEWS Eisner Is Out!!!

orlpassholder

orlpassholder

New Member
Original Poster
BREAKING NEWS split roles now

abcnews.com

Split Decision

BREAKING NEWS

Disney splits CEO, chairman jobs.


off ap wire

PHILADELPHIA - The Walt Disney Co.'s board voted late Wednesday to split the roles of chairman and chief executive, hours after shareholders delivered a stinging rebuke by withholding 43 percent of their votes for CEO Michael Eisner's re-election to the board.

Disney directors voted unanimously to make board member George Mitchell the company's new chairman and voiced their continuing approval of Eisner's management and the company's strategy.
 
T

TURKEY

New Member
He's still the CEO.

He's out as the Chairman of the Board. Sen. George Mitchell who received a 24% no confidence vote has been unanimously elected as the new chairman of the board.

This really doesn't do anything.



From the board:

The board released a statement that said the board, "mindful of the shareholder vote today," is separating the positions.

"While making this change in governance, the Board remains unanimous in its support of the Company's management team and of Michael Eisner, who will continue to serve as chief executive officer. Following recent detailed reviews of each major business and with an ongoing, in-depth knowledge of our operations, the Board has confidence in the strategic direction of the company. Our belief in the Company's strategy, financial results over the last several quarters, and the level of earnings and improved returns we expect going forward make us confident that results will validate our judgment on the quality of our management team."
 
HauntedPirate

HauntedPirate

Park nostalgist
Premium Member
Bah. This means nothing. Mitchell is an Eisner puppet, Eisner still pulls the strings. How can a person have nearly a quarter of shareholders vote "no confidence", yet get promoted? Only with this board, I guess. :fork:
 
R

roysta123

New Member
Mitchell and Eisner need to get out of the company all together in order for future change and prosperity to occur. This nonsense is just the Disney company spinning the votes to say that us shareholders just wanted the CEO-chairman job split, but that isn't the case for a lot of shareholders. The vote meant that Eisner needs to go for good and Mitchell's 24% doesn't mean we want him to get a promotion to Chairman!
 
frazierle

frazierle

Member
Sounds like we should have withheld votes for the entire board. I guess they figure Mitchells 24% is an improvement over Eisners 43%
 
cherrynegra

cherrynegra

Well-Known Member
This is ridiculous!!! The numbers speak loud and clear that not only Eisner, but Mitchell as well, should step down. No sense of honor. No sense of decorum. No sense of doing the right thing. And the spineless board!!! Excuse me, but Mitchell was just as culpable as Eisner and if 22% is enough to get Steve Case of Time/Warner, the CEO, off the Board, then it is certainly enough to get Mitchell off. Booooooooooo!!!!!
 
R

roysta123

New Member
They both need to step down NOW!!! Before the shareholders really get ed! I can't believe that they think this will solve everything when nothing better will become of this.:fork: :fork: :fork:
 
frazierle

frazierle

Member
Did I read somewhere where Mitchell was they first guy to talk to Comcast and encouraged them to contact Eisner? So we have the fox watching the hen house.
 
daksimba

daksimba

New Member
Eisner will stay on as chief executive, the board said, adding in a statement that it was confident in the company's senior management and strategic direction.
Click to expand...


Did the board not notice that 43% of the stockholders aren't confident in the senior management and its strategic direction?
 

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