Analyst suggests shareholders vote against Eisner

Posted | Contributed by Brian Noble

Fund advisor Institutional Shareholder Services on Wednesday recommended that Walt Disney Co. shareholders vote against reelecting Chief Executive Michael Eisner to the board of directors. The firm says that the lines between the CEO and board are too blurred for Eisner to be effective.

Read more from Reuters via Yahoo.

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This is a big deal. Up until now, most of the anti-Eisner sentiment seemed to be coming from fans, as opposed to big shareholders. Early on, most of the analysts and fund managers had been perfectly happy with WDC. This is a definite change in the winds, and may mean more than Comcast's takeover bid.

*** This post was edited by Brian Noble 2/12/2004 9:01:19 AM ***

rollergator's avatar
CNN certainly made a big deal last night about this recommendation from ISS...

...AND, they made more than a minor side-mention re: Roy Disney. Certainly seems like a LOT more is going on than Eisner wanted the shareholders to believe...

Mike E., you just might be.....the weakest link.....g'bye!

Soggy's avatar
Well, you don't have to be a "Doom & Gloomer" to see that there is trouble brewing in one form or another for Disney. Either by Eisner, the rest of the board, Roy Disney and now shareholders. I hope Disney is able to pull through and become what they once were.

*** This post was edited by Soggy 2/12/2004 11:18:54 AM ***

rollergator's avatar
Due to relevance, I'm re-posting this to THIS news item...Disney SURE has been in the news alot lately, not much of it "good news"...

WHY should you be "disturbed" by an attack on such a strong and profitable company whose outlook is SO exceptionally positive? I'd think if you were THAT convinced of your obvious growth and future earnings that you could just IGNORE such a "misleading and distorted campaign".

Jeff IS right that the true Disney-heads often see their (Disney) world in black-and-white that really exceeds the reasonableness considering the situation. THIS time, however, I'm looking at TODAY'S news item (the $66B bid) and thinking that the Mouse House is indeed in a time of great flux....which DIRECTION the empire takes is likely to be decided very soon, and I do honestly believe that Eisner has more than outlived his usefulness at his current position (and possibly created a rift in the company that will have longer-lasting and potentially catastrophic consequences).

There have been several comments recently intimating that Roy's displeasure with Eisner is a result of his ousting....frankly, it sure LOOKS to be the other way around to me. I believe that Roy's willingness to take unpopular positions that were contrary to Eisner's LED to his ouster....and I hope, for the sake of Disney, that Roy reutrns, triumphantly, to lead Disney into the 21st century.

For me, it's NOT about what rides are constructed, or whether this "venture" is profitable or not, it's about KIDS, and CREATIVITY, and EXCELLENCE, not taking a back seat to the accountants....

bill, NOT a Disney-freak...

Lord Gonchar's avatar
Well said, 'gator. :)

I agree with it all.

In all honesty, would you really want a man Roy's age running your company? I'm not saying he can't be a part of it or that he is incapable so don't yell at me.

Frank- who just hopes everything works out for Disney.

Looks like Roy is running the campaign against Eisner just fine to me. And he knows what the company once was and what it will take to get it back on track. So I don't see his age an issue at all. But don't think the Comcast deal or that Pixar aren't involved in this as well. I have no doubt that there is more going on behind the scenes and things are being manuvered and set up for executives from one of those companies to step in and eventually be running the show. While Eisner has ignored planning for his eventual replacement, it appears to me that Roy is not only thinking about who would secede himself if he took over, but even already putting his plan into place.
I'll third 'gator. Regardless of Roys age, he seems to "get it" when it comes to what the Disney name once stood for. Something Eisner never once considered or even cared to try to understand.

Like I stated before, regardless of how well the company was doing under Eisner, under better leadership and with someone with an ounce of creativity and imagination, it could have been doing much better all along regardless of 9/11 or any other excuses Eisner used.

Lord Gonchar's avatar

But don't think the Comcast deal or that Pixar aren't involved in this as well. I have no doubt that there is more going on behind the scenes and things are being manuvered and set up for executives from one of those companies to step in and eventually be running the show.

You're not the only one:

Lots of speculation and rumor, but...

Jeff's avatar
I say combine Pixar and Disney, put Steve Jobs at the head of Disney. While I strongly disagree with some of his business decisions (like not licensing the Mac OS), he knows how to hold onto a religious audience, and he's getting more converts with the iPod.
see, what *I* see happening here is this...(JMO, please dont bash too hard)

Comcast takes over Disney and goes to Pixar and says "Hey, wanna come back and work with us again?"

and Comcast cuts Pixar a better deal than what Disney gave them (wasn't it like 50/50 or something outrageous like that?)

thing is, Pixar got screwed by Disney all the way. ive been a fan of Pixar for almost 20 years, ever since "Luxo Jr" made the rounds of the computer animation festivals.

as great as Pixar is, it costs EXORBITANT amounts of money to make their movies and when Disney stepped in it allowed Pixar to become what it is today. Pixar was not, and is not, financially ready to stand on their own. they are not ILM or WETA...YET.

if Comcast gets Disney, i hope and pray that they get Pixar back in the stable, especially considering what Pixar has planned for the next release....


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