Disney's CEO Expected to Resign
By Wendy Tanaka, The Philadelphia Inquirer Knight Ridder/Tribune Business News
April 1 - Walt Disney Company Chairman George Mitchell said yesterday that Walt Disney Co. officials were blaming Eisner for misdirecting the company on several management issues, and one of which has affected Eisner so deeply, insiders say Eisner will resign.
CEO Eisner has been chairman of the Walt Disney Company for more then fifteen years, and for him to resign now, many say that it is about time. Former members of the Disney Board, Roy Disney and Sanley Gold, began a campaign in December to oust Eisner from the company. It apparently worked, as at the company shareholder meeting last month, more then 43% of Disney's shareholders voted "No" on the re-election of then CEO & Chairman Michael Eisner. The company responded by removing Eisner's title of Chairman, but retaining Eisner's CEO position. Eisner is expected to announce his resignation at a Disney press conference today at 2pm Pacific Standard time being held at the Disney Headquarters in Burbank, CA. Even though it is the first of the fourth month of the year, we hope to see what will happen at the press conference.
By Wendy Tanaka, The Philadelphia Inquirer Knight Ridder/Tribune Business News
April 1 - Walt Disney Company Chairman George Mitchell said yesterday that Walt Disney Co. officials were blaming Eisner for misdirecting the company on several management issues, and one of which has affected Eisner so deeply, insiders say Eisner will resign.
CEO Eisner has been chairman of the Walt Disney Company for more then fifteen years, and for him to resign now, many say that it is about time. Former members of the Disney Board, Roy Disney and Sanley Gold, began a campaign in December to oust Eisner from the company. It apparently worked, as at the company shareholder meeting last month, more then 43% of Disney's shareholders voted "No" on the re-election of then CEO & Chairman Michael Eisner. The company responded by removing Eisner's title of Chairman, but retaining Eisner's CEO position. Eisner is expected to announce his resignation at a Disney press conference today at 2pm Pacific Standard time being held at the Disney Headquarters in Burbank, CA. Even though it is the first of the fourth month of the year, we hope to see what will happen at the press conference.