Roy Disney resigns, asks Eisner to step down

[crazy ernie]

ROY DISNEY RESIGNS; CALLS ON EISNER TO STEP ASIDE
Sun Nov 30 2003 16:32:17 ET

Walt Disney Co. Vice Chairman Roy E. Disney submitted his resignation from the company board on Sunday and called for Disney Chairman and CEO Michael Eisner to step down from his own positions, the WALL STREET JOURNAL is reporting.

Disney, nephew to the late Walt Disney, sent Eisner a three-page letter severely criticizing his leadership during the past seven years:

'It is my sincere belief that it is you who should be leaving and not me,... Accordingly, I once again call for your resignation or retirement.'

WSJ reporter Bruce Orwall writes that in his letter Disney said that Eisner deserved credit for a successful first decade after taking the helm at Disney in 1984. But he then detailed seven areas in which he said Mr. Eisner has failed the company in the past seven years.

The list of complaints included everything from the performance of the struggling ABC broadcast networks and Disney theme parks to Mr. Eisner's reputation for "micro-management of everyone around you."

The resignation comes in advance of a Disney board meeting this week. Mr. Disney's letter seems to indicate that the Disney board's nominating committee had decided to leave his name off the slate of directors to be elected for the coming year. Mr. Disney also indicated that he would also resign from his position as chairman of Disney feature animation.

A Disney spokeswoman initially declined to comment.

 

[mupvisiongirl]

I'm not the hugest fan of Mr. Eisner- so maybe this will turn out to be a good thing.

 

[Bean Bunny]

I'm not the hugest fan of Mr. Eisner- so maybe this will turn out to be a good thing.

Or something very bad, Eisner know has full control over the company.

 

[AndyWan Kenobi]

Well, I do appreciate the amazing turnaround Michael Eisner helped Disney through when he became the head of the company, but I think it would also be a good idea to have some new blood at this point. I don't necessarily think he has to go, but if it will help the company recapture its glory, then maybe it's not a bad idea...

 

[BJC899]

Good or bad? Time will tell.

But now, maybe Disney will now crank out **** good movies like they used to make.

NO MORE SEQUALS, AND SEQUALS AFTER SEQUALS!

 

[sarah_yzma]

very sad to see Roy go, but if Eisner indeed steps down with him, Roy's stepping down won't be in vain.

 

[Mr.Penguin]

FINALLY! Down with Eisner! Bwahaha!
(I'm still suprised they haven't made Snow White 2!)

 

[sarah_yzma]

yes, but if he goes is yet to be seen....

 

[Buck-Beaver]

My impressio was that Roy actually had very little say in day to day management of Disney. Eisner has been under fire for years because there has never really been a clear plan for someone to succeed him as Chairman. I doubt Eisner would go quietly unless he had a better (or equal) job offer in front of him.

Should be interesting to see what happens next.

 

[sarah_yzma]

Well said, Buck-Beaver! Eisner won't go without a fight, which might ruin his reputation...he knows Roy wrote the letter not just for him, but for the other board members....sort of a lose lose situation for Eisner....smart move on Roy's part, sort of....