Disney’s chief executive, Michael Eisner, has announced in a letter to the board that he will leave the company when his contract ends in September 2006.
Appointed chair and chief executive of Disney in 1984, Eisner’s dual tenure came to an end earlier this year when he became embroiled in a long battle with shareholders who revolted following the unsolicited approach for Disney by US cable group Comcast, which was rejected by the board as being too low.
His decision to resign has been described by some analysts as a pre-emptive strike before rebel shareholders force him to stand down before his contract expires.
Eisner said he was “honoured and proud” to have been chief executive of Disney and, regarding plans to do when he leaves in 2006, declared: “I’m going to Disneyland!”