From the New York Post today:
DISNEY BOARD SPLIT ON IGER
By TIM ARANGO
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February 3, 2005 -- Disney's board of directors have become concerned that the company's CEO search is rigged in favor of president Bob Iger — so much so that Chairman George Mitchell has told management to tamp down its public campaign on behalf of Iger, The Post has learned.
At the same time, a source close to the matter said that the board is sharply divided on the succession issue: three board members, including Eisner and Iger, unequivocally back the company president, while three directors are said to be against his appointment.
The remaining six directors, the source said, are more open-minded and are waiting to consider candidates from outside the company.
In a statement, Mitchell said it is "absolutely untrue" that he told management to tone down the pro-Iger rhetoric.
As for the board split, he said: "To the best of my knowledge, no board member other than Michael Eisner has made any statement, public or private, as to how he or she would vote. The board will make its decision after it has been through the process, not before or during it."
Meanwhile, some outside candidates have been privately griping that they believe the search is fixed, and are worried that the board will not give full consideration to candidates other than Iger, a source said.
"Some are saying they are not going to be dragged into a beauty contest that is rigged," said this source.
Among the outside candidates that are expected to be contacted are News Corp. President Peter Chernin; eBay chief Meg Whitman; and Viacom co-prez Les Moonves.
Last year, following Eisner's announcement in September that he would step down as CEO when his contract expires in 2006, the board hired search firm Heidrick & Struggles to conduct an independent search for Eisner's replacement.
But to date, the board has not yet sought out external candidates, although it plans to begin doing so after next week's annual meeting.
"It's [Eisner] doing what he can to arrange his heir apparent," said one source close to the matter, explaining why outside candidates have not yet been interviewed.
DISNEY BOARD SPLIT ON IGER
By TIM ARANGO
--------------------------------------------------------------------------------
Email Archives
Print Reprint
February 3, 2005 -- Disney's board of directors have become concerned that the company's CEO search is rigged in favor of president Bob Iger — so much so that Chairman George Mitchell has told management to tamp down its public campaign on behalf of Iger, The Post has learned.
At the same time, a source close to the matter said that the board is sharply divided on the succession issue: three board members, including Eisner and Iger, unequivocally back the company president, while three directors are said to be against his appointment.
The remaining six directors, the source said, are more open-minded and are waiting to consider candidates from outside the company.
In a statement, Mitchell said it is "absolutely untrue" that he told management to tone down the pro-Iger rhetoric.
As for the board split, he said: "To the best of my knowledge, no board member other than Michael Eisner has made any statement, public or private, as to how he or she would vote. The board will make its decision after it has been through the process, not before or during it."
Meanwhile, some outside candidates have been privately griping that they believe the search is fixed, and are worried that the board will not give full consideration to candidates other than Iger, a source said.
"Some are saying they are not going to be dragged into a beauty contest that is rigged," said this source.
Among the outside candidates that are expected to be contacted are News Corp. President Peter Chernin; eBay chief Meg Whitman; and Viacom co-prez Les Moonves.
Last year, following Eisner's announcement in September that he would step down as CEO when his contract expires in 2006, the board hired search firm Heidrick & Struggles to conduct an independent search for Eisner's replacement.
But to date, the board has not yet sought out external candidates, although it plans to begin doing so after next week's annual meeting.
"It's [Eisner] doing what he can to arrange his heir apparent," said one source close to the matter, explaining why outside candidates have not yet been interviewed.
