Posted Friday, September 30, 2005 12:53 AM | Contributed by Jeff
Michael Eisner is stepping down as Disney's chief executive, as former number two Robert Iger assumes the top spot. The Orlando Sentinel has published a number of stories and editorials about Eisner's legacy and Iger's challenges.
Read more from The Orlando Sentinel.
These numbers compare 1984...his first year with 2004:
Revenues....$1.5 billion....$30.8 billion
Income....$294 million....$4.49 billion
Market Value....$1.9 billion....$57.4 billion
Man, I sure wish I owned Disney stock in 1984!
Eisner likely saved the company (with the help of key people such as Frank Wells and Jeffrey Katzenberg). He began to lose focus when he started to worry more about his people than his product, chasing away key executives who made significant contributions.
The other unbelievable stats? In the 20 years that Disney was going gangbusters the other media giants did the following:
Time Warner wrote off $99.7 billion.
Vivendi-Universal wrote off $40.6 billion.
Viacom wrote off $21.2 billion.
Disney was the only media giant to not write off any losses during those years...even with Euro Disney, DCA, The Emperor's New Groove, the loss of the 20K subs and a host of other things that critics pin on Eisner.
His time has come (and probably passed several years ago) but you cannot deny the lasting impact, largely for the good, of Michael Eisner.
But also, I believe that he hit is prime, like everyone usually does at running a company, and then on the downward slope, he kept sliding longer than he needed to, and probably would still be were it up to him.
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