Save Disney Ends efforts

CTXRover

CTXRover

Well-Known Member
Original Poster
From animated-news.com:

Save Disney ends efforts
Yahoo! News reports that, while not perfectly satisfied with the outcome of their efforts to oust Michael Eisner from his position as The Walt Disney Company's CEO, Roy Disney and Stanley Gold have decided not to push for an alternate slate of directors when the company's next annual meeting is held in March 2005. "The two men expressed disappointment that the board had rejected recommendations for an independent board member from a group of state pension funds. They also said they were displeased that the board had rejected several shareholder proposals the two men had backed.

"But they said that they were pleased with recent improvements in the company's performance. Disney's stock has risen in the past year as the company's earnings per share grew more than 50 percent."

For the full AP article go to: http://biz.yahoo.com/ap/041203/disney_dissidents_2.html
 
G

General Grizz

New Member
*sigh*

I hope Iger goes home with his next 10 million.

Save Disney's done, so D-Troops will soon start up. Bottom up instead of Top to botton, I guess?
 
DisneyFan 2000

DisneyFan 2000

Well-Known Member
Talk about ruining a guy's day... :( I doubt the board will do anything without outside pressure...
I thought the company meant much more to Roy. I guess not...
 
prberk

prberk

Well-Known Member
Well, it is the way that the media (once again, relying on soundbites and headlines) are reporting it. Until I actually went to the SaveDisney site, I did not get the complete picture.

It is true that they have called off the proxy submission (due to the SEC rules and deadline to do so), but it is not true that their efforts are over.

The higher stock price in the short term and the moves that the board has made to improve governance made another slate less likely to go through; and the board made promises to continue reforms and replace Eisner by June 2005. So, they called off the proxy fight, but not the pressure.

It is the pressure from Roy and Stan's efforts that have emboldened others to speak up with confidence, and it is the overall pressure that has forced the board to act thus far.

Further pressure must be kept in order to keep the attention of the board.

That is what Roy and Stan are doing. (Besides being a good resource for getting beyond the company line.) See for yourself at www.savedisney.com .

Many of you may think I am naive, but I think that the movement has been good, and is still needed.

Paul
 

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