Eisner resigns from Disney board

Posted Thursday, October 6, 2005 10:32 PM | Contributed by Radius

Michael Eisner, who stepped down last week as chief executive of The Walt Disney Co., has resigned his seat on the company's board of directors, Disney said Thursday. Eisner and the company have severed all ties in a surprise move that means he will not serve as a consultant as he had been entitled to do under his employment agreement.

Read more from AP via Yahoo.

Thursday, October 6, 2005 10:33 PM
Jeff's avatar Didn't see that one coming. This begs the question... who hired him? You don't walk away from that gig unless something really cool fell into your lap.
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Thursday, October 6, 2005 10:55 PM
Or if you just really want to enjoy your retirement... or more sinisterly, if you expect the company to run into major problems in the near term.

Though a new job does seem likely, as this guy is surely accustomed to quite a lifestyle which may not be easy to sustain on his meager retirement package.

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Thursday, October 6, 2005 10:59 PM
Kieran's replacement maybe? (I kid . . .I kid...:))
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Friday, October 7, 2005 12:40 AM
Shoot, let him go to SFI. At it's worst, Disney has always been far, far better than Six Flags. Let him work some magic there, I'd be very happy.
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Friday, October 7, 2005 7:46 AM
ShiveringTim's avatar Disney is much more than parks, folks. With the recent Viacom-CBS split, perhaps there's an opening there? I'm sure he'll show up again in a some role with another studio/media congolomerate like Fox, AOL-Time Warner, NBC-Universal, etc.
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Friday, October 7, 2005 9:18 AM
I don't know if anyone hired him. Eisner has a pretty high opinion of himself and I can see him saying, "If I can't be CEO, I want nothing to do with this company." Or maybe someone made it clear to him that he wouldn't have the control that he thought.

As much as I dislike Eisner for the way he handled the creative end of Disney in the past decade, I think he would make a great fit at a company like Six Flags. The guy has proven that he can turn a company around and with creativity being less of an issue at Six Flags than it is at Disney, I can't think of any reasons to be against something like that. But since Eisner has always been a "Hollywood" entertainment guy, I can't see him taking a position in a company operating outside of that industry. Unless he decides to run that silly camp he wrote a book about.

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Friday, October 7, 2005 12:24 PM
Jeff's avatar I don't understand how everyone seems to think they have this deep understanding of his personality and ego. I just don't get that. I'm more than positive that money is not a motivating factor for him, so I wonder what his new challenge really is.
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Friday, October 7, 2005 2:07 PM
If you've ever read anything about Disney and Eisner other than an annual report, you'd know a little about the guy's personality and ego.
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Friday, October 7, 2005 2:28 PM
Jeff's avatar Yeah, but the source is always someone with their own agenda or someone that just disagrees with him. That alone doesn't make him a megalomaniac, in my opinion.
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Friday, October 7, 2005 4:07 PM
It depends, some sources are more reliable. James Stewart painted a pretty nasty picture of Eisner in his Disneywar book (even though he did a lot to explain the good things that he did earlier in his Disney tenure.) Roy Disney and Stanley Gold did the same for reasons that were extremely obvious.

But when you have people in Hollywood- powerful, respected people like Steve Jobs and the Weinstein brothers- that refuse to work with the guy, there is reason to wonder. I don't think that another distribution house could do as fine a job with the Pixar films as Disney did so there must have been some serious issues with Eisner for Jobs to put that on hold until he was gone.

Have you ever read Work in Progress, Eisner's autobiography? There are times when he comes across as pretty pompous and egotistical in a book that is supposed to cast him in a positive light. He came across the same way on Larry King when the whole shareholder revolt was going on.

I don't know the guy but if it walks like a duck, talks like a duck and a bunch of other people say it IS a duck...

*** This post was edited by Rob Ascough 10/7/2005 4:07:50 PM ***

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Friday, October 7, 2005 4:38 PM
Lord Gonchar's avatar There's a fine line between confidence and cockiness. I don't know enough about the guy to make the call, but sometimes one can be interpreted as the other.

I think that may be where the mixed opinions of Eisner come from.

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Friday, October 7, 2005 9:10 PM
I personally don't 'dislike' Eisner, don't know enough about him. I do think it was time for Disney to have new blood, but I am also confident they would have been profitable had Eisner ran the company for another decade.

I wonder what caused this myself. Didn't see it coming. In my wildest dreams, they'll announce he did go to Six Flags. Then, perhaps the largest regional theme park operator could also be a top contender at all of their parks.

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Saturday, October 8, 2005 12:38 AM
Jeff's avatar The Weinsteins are respected? My God, you have to be kidding, especially in the context of egos. Read Down and Dirty Pictures and I'm certain you'll think differently of those guys.
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Saturday, October 8, 2005 10:05 AM
I read an article not too long ago that made the case that ALL CEOs were basically egomaniacs...it's a personality trait required for success in the role. Personally, I don't know if I buy into that theory (I was CEO of my own start-up for a few years, after all <g> ), but it was an interesting read.

Wouldn't Eisner have some kind of non-compete contract? I can't imagine there not being some device in place to keep him from going to Time-Warner, Viacom, etc. for a certain amount of time.*** This post was edited by JZarley 10/8/2005 10:05:39 AM ***

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Saturday, October 8, 2005 4:06 PM
Am I the only one to see the irony in Jeff's one post:

"I don't understand how everyone seems to think they have this deep understanding of his personality and ego...I'm more than positive that money is not a motivating factor for him, so I wonder what his new challenge really is. "

How would you be more than positive that money is not a motivating factor unless you have this deep understanding of his personality and ego?

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Saturday, October 8, 2005 4:17 PM
Jeff's avatar Because when you have that much money, you don't take a specific job for more money. He could never work another day in his life and be golden.
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Saturday, October 8, 2005 11:49 PM
I never said your post didn't make sense... I just found it amusing and ironic. :)
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Sunday, October 9, 2005 8:14 PM
I think it doesn't make sense. Unless you've had drinks with the guy, your assumption that money is his motivating factor is as solid as my so-called assumptions.
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Tuesday, October 11, 2005 9:56 AM
Eisner substituted for Charlie Rose yesterday on his PBS show and interviewed John Travolta and Barry Diller. Eisner won't be challenging Larry King for a job anytime soon but he hinted on the show that he made a deal with a producer he met on the flight to New York on a script idea he had.

I don't know what limitations there are on Board members at Disney but I suspect there could be some conflict of interest stuff that could arise if Eisner wants to keep he hands in the Hollywood action.

Another intesting thing Eisner mentioned is that his son was on that Jet Blue flight that landed with it's front wheels askew. I had not heard that before.

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