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Roy Disney resigns

#1 User is offline   wishingtree 

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Posted 30 November 2003 - 07:06 PM

NEW YORK (Reuters) - Walt Disney Co. Vice Chairman Roy Disney has left the company's board and is calling for Chairman and Chief Executive Michael Eisner to resign his posts, according to a report in the online edition of The Wall Street Journal.
In a three-page letter to Eisner, Roy Disney said, "It is my sincere belief that it is you who should be leaving and not me," the newspaper reported.


Disney cited a litany of complaints about Eisner's leadership, including the performance of ABC television and radio networks and Disney theme parks.


But the impetus for the resignation might be his apparent exclusion from the list of nominees to the board for the coming year, the report said. Disney has a board meeting this Tuesday.


A Disney source familiar with the situation confirmed that three board members, including Roy Disney, would not be up for re-nomination.


"Three directors have been told they are not going to be nominated again," the source said.


The three board members all passed the mandatory retirement age of 72, a threshold that has been waived in the past, the source said.


Roy Disney and Eisner have been at odds in recent years over the company's management as its strong financial position has faltered.


Roy Disney, the nephew of visionary company founder Walt Disney, in August said he struck a deal to sell more than 40 percent of his stake in the company, in which he was the largest individual shareholder.


A spokesmen for Roy Disney was not immediately available to comment on Sunday.
Jim

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#2 User is offline   QuickGold 

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Posted 30 November 2003 - 09:21 PM

Wow, so no more family connection?
Matt
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#3 User is offline   DisneyFreak1228 

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Posted 30 November 2003 - 09:56 PM

A Disney no longer involved in Disney?!
What is this world coming to?!
*Leslie Ivette*
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#4 User is offline   lilchippewa 

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Posted 30 November 2003 - 10:20 PM

The last connection to the Disney family is severed. I've always seen Disney as a corporation with a strong family atmosphere. I saw that obviously because of the namesake of the company being the person who started the company. It's kind of concerning that those ties aren't there anymore.
-Josh
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#5 User is offline   TrendyMagic 

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Posted 30 November 2003 - 11:06 PM

Wow. Not the best of news.
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#6 User is offline   disneyprincess 

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Posted 01 December 2003 - 12:07 AM

lilchippewa said:

The last connection to the Disney family is severed. I've always seen Disney as a corporation with a strong family atmosphere. I saw that obviously because of the namesake of the company being the person who started the company. It's kind of concerning that those ties aren't there anymore.

That was my exact thought when I heard about this.
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#7 User is offline   DisneyFreak1228 

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Posted 01 December 2003 - 09:50 AM

Yeah, I guess the whole shutting down WDFA-FL thing was just a sign of the more troubling things that were to come.

Wow.
This is nuts.

It's the end of the World as we know it...
It's the end of the World as we know it...
It's the end of the World as we know it...
But I DON'T feel fine. :D
*Leslie Ivette*
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#8 User is offline   QuickGold 

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Posted 01 December 2003 - 03:21 PM

Maybe this will be a wake up call. Personally I thought things, at least on the theme park end, were picking up. I know ABC is doing crappy right now but the movies are doing well (Nemo & Pirates alone made their year)
Matt
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#9 User is offline   TrendyMagic 

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Posted 01 December 2003 - 04:21 PM

The parks have picked up a large amount this year over the past two years. I would actually consider this past weekend 'crowded'. But the past two THanksgivings were very light. Guess the advertising is paying off.

If Eisner is screwing that much up that Roy has quit, I would say to get rid of Eisner now.
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#10 User is offline   disneyprincess 

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Posted 01 December 2003 - 11:27 PM

Stanley Gold resigned today too because of all of this.

http://news.ft.com/servlet/ContentServer?p...d=1069493630273
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#11 User is offline   TrendyMagic 

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Posted 01 December 2003 - 11:39 PM

How many more are going to leave? and will they finally get Eisner out?
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#12 User is offline   lilchippewa 

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Posted 01 December 2003 - 11:55 PM

Is The Walt Disney Company a sinking ship? I'm starting to wonder myself. If there is that much disorder at the top to cause a few leaders to quit, maybe Eisner is going to get the message and leave himself.
-Josh
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#13 User is offline   TrendyMagic 

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Posted 02 December 2003 - 12:14 AM

Just found Roy's letter on CNN...

http://money.cnn.com/2003/12/01/news/compa...isney/index.htm
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#14 User is offline   TrendyMagic 

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Posted 02 December 2003 - 12:18 AM

Also you can disapprove of Eisner at Forbes:

http://www.forbes.co...x_ceomedia.html
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#15 User is offline   DisneyFreak1228 

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Posted 02 December 2003 - 11:18 AM

Wow, thanks for posting that link to the letter, Jason.
My parents and I were wondering what it said.

I'm behind him 200%.
Eisner's time has passed.
We need someone new.
*Leslie Ivette*
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#16 User is offline   QuickGold 

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Posted 02 December 2003 - 06:19 PM

DisneyFreak1228 said:

We need someone new.

I'm someone new :)
Matt
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#17 User is offline   wishingtree 

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Posted 02 December 2003 - 06:35 PM

QuickGold said:

DisneyFreak1228 said:

We need someone new.

I'm someone new :P


And we would make great board members.

Oh wait, I'm a CM already. I can stop sucking up for free admission :)
Jim

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#18 User is offline   TrendyMagic 

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Posted 02 December 2003 - 06:43 PM

So who resigned today? anyone?
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#19 User is offline   DisneyFreak1228 

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Posted 02 December 2003 - 09:12 PM

QuickGold said:

DisneyFreak1228 said:

We need someone new.

I'm someone new :)


Are you trying to scare the living crap outta me?!
*Leslie Ivette*
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#20 User is offline   disneyprincess 

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Posted 02 December 2003 - 09:23 PM

When I tell my dad I'm looking at new spots to transfer to, he says "I know two new positions that just opened up" evil, evil.
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