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Holo · 03-04-2004, 06:38 AM

If you feel this is in the wrong place by all means move it.

Linko

Eisner out as Disney chair

He will keep CEO job. Board unanimously elects former U.S. Senator George Mitchell chairman.
March 4, 2004: 7:56 AM EST
By Paul R. La Monica, CNN/Money senior writer

NEW YORK (CNN/Money) - The board of Walt Disney Co. late Wednesday stripped CEO Michael Eisner of his role as chairman after about 43 percent of shareholders voted to oppose his re-election to the company's board.

The board opted to separate the positions of chairman and chief executive at a meeting that followed what was an often quarrelsome five-hour annual shareholder meeting in Philadelphia earlier in the day. It unanimously elected former U.S. Senator George Mitchell chairman.

Eisner will keep the CEO job and the board in its statement said it remained "unanimous in its support" of Disney's management team.

Eisner, appearing on Disney's own ABC network, told "Nightline" anchor Ted Koppel late Wednesday that he planned to stay as chief executive at least until his contract expires in 2006.

Strong opposition
Earlier, Disney said about 1.8 billion shares, or nearly 87 percent of the total shares outstanding, were represented in the proxy vote. Nearly 772 million shares opposed Eisner's re-election to the board. Several prominent pension funds had announced publicly in recent days that they planned on withholding their votes for Eisner.

“ Michael Eisner must leave now. ”
Stanley Gold
Ex-Disney board member

"This is without a doubt the most withholding of support for a CEO of a major company that I have ever seen. It's really an expression of dissatisfaction," said Kevin Calabrese, an analyst with Argus Research.

Following Wednesday's vote, California's Calpers, the nation's largest pension fund, called for Eisner to resign by the end of the year and urged Disney to split the role of chairman and CEO. Calpers owns more than 9.9 million shares of Disney. The pension fund had said it would withhold its vote for Eisner at Wednesday's meeting, but this is the first time Calpers has specifically called for Eisner's ouster.

"This discontent is too wide and way too deep in the marketplace, and it has led us to believe that Eisner should go and the board should get quickly to work on planning for an orderly transition," Sean Harrigan, president of the board of administration for Calpers, said in a written statement.

Disney had previously said it expected at least 30 percent of shareholders to oppose Eisner's re-election to the board. But Stanley Gold, one of two ex-board members who is seeking Eisner's ouster, accurately predicted at the beginning of Wednesday's meeting that more than 40 percent of shareholders would withhold their votes for Eisner.

All I can say is YES!!! More info and opinion on why this is good:

http://www.savedisney.com/

http://www.zpub.com/notes/FuckDisney.html

http://www.coasterbuzz.com/2003-335-783412.htm

Roy disney's letter to Eisner:

http://media.guardian.co.uk/broadcas...098012,00.html

03-04-2004, 06:38 AM	#1 (permalink)
Holo A Real American	Eisner Ousted as Chairman. If you feel this is in the wrong place by all means move it. Linko Eisner out as Disney chair He will keep CEO job. Board unanimously elects former U.S. Senator George Mitchell chairman. March 4, 2004: 7:56 AM EST By Paul R. La Monica, CNN/Money senior writer NEW YORK (CNN/Money) - The board of Walt Disney Co. late Wednesday stripped CEO Michael Eisner of his role as chairman after about 43 percent of shareholders voted to oppose his re-election to the company's board. The board opted to separate the positions of chairman and chief executive at a meeting that followed what was an often quarrelsome five-hour annual shareholder meeting in Philadelphia earlier in the day. It unanimously elected former U.S. Senator George Mitchell chairman. Eisner will keep the CEO job and the board in its statement said it remained "unanimous in its support" of Disney's management team. Eisner, appearing on Disney's own ABC network, told "Nightline" anchor Ted Koppel late Wednesday that he planned to stay as chief executive at least until his contract expires in 2006. Strong opposition Earlier, Disney said about 1.8 billion shares, or nearly 87 percent of the total shares outstanding, were represented in the proxy vote. Nearly 772 million shares opposed Eisner's re-election to the board. Several prominent pension funds had announced publicly in recent days that they planned on withholding their votes for Eisner. “ Michael Eisner must leave now. ” Stanley Gold Ex-Disney board member "This is without a doubt the most withholding of support for a CEO of a major company that I have ever seen. It's really an expression of dissatisfaction," said Kevin Calabrese, an analyst with Argus Research. Following Wednesday's vote, California's Calpers, the nation's largest pension fund, called for Eisner to resign by the end of the year and urged Disney to split the role of chairman and CEO. Calpers owns more than 9.9 million shares of Disney. The pension fund had said it would withhold its vote for Eisner at Wednesday's meeting, but this is the first time Calpers has specifically called for Eisner's ouster. "This discontent is too wide and way too deep in the marketplace, and it has led us to believe that Eisner should go and the board should get quickly to work on planning for an orderly transition," Sean Harrigan, president of the board of administration for Calpers, said in a written statement. Disney had previously said it expected at least 30 percent of shareholders to oppose Eisner's re-election to the board. But Stanley Gold, one of two ex-board members who is seeking Eisner's ouster, accurately predicted at the beginning of Wednesday's meeting that more than 40 percent of shareholders would withhold their votes for Eisner. All I can say is YES!!! More info and opinion on why this is good: http://www.savedisney.com/ http://www.zpub.com/notes/FuckDisney.html http://www.coasterbuzz.com/2003-335-783412.htm Roy disney's letter to Eisner: http://media.guardian.co.uk/broadcas...098012,00.html __________________ I happen to like the words "fuck", "cock", "pussy", "tits", "cunt", "twat", "shit" and even "bitch". As long as I am not using them to describe you, don't go telling me whether or not I can/should use them...that is, if you want me to continue refraining from using them to describe you. ~Prince