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Disney shareholders revolt against Eisner
POSTED 04 Mar 2004 . BY
Michael Eisner was yesterday forced to stand down as the chair of the Disney Group, following a shareholder revolt.

However, Eisner will keep his position as chief executive, despite 43 per cent of the company's shareholders voting against the continuation of his leadership.

The revolt was lead by former board member, Roy Disney – nephew of the company’s founder, Walt.

Roy Disney claimed Eisner’s strategy has transformed the company into a ‘soul-less entity’, always looking for ‘the quick buck’, rather than attempting to create long-term goals.

Some analysts have said that the shareholders’ action comes two years too late, however, many claim Eisner has vindicated his strategy by improving the media giants’ fortunes.

Despite having a tumultuous five years, the Disney Group has pulled back some of the profit losses it suffered after 11 September 2001.

Reporting its first quarter figures last month, Disney announced a five per cent rise in revenue from its theme park business.

The price of shares in the group has also recently recovered from their slump, largely helped by the hostile takeover bid from cable company, Comcast.

Former US Senator, George Mitchell, was elected chair to replace Eisner. Details: www.disney.com

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Jobs   News   Products   Magazine
NEWS
Disney shareholders revolt against Eisner
POSTED 04 Mar 2004 . BY
Michael Eisner was yesterday forced to stand down as the chair of the Disney Group, following a shareholder revolt.

However, Eisner will keep his position as chief executive, despite 43 per cent of the company's shareholders voting against the continuation of his leadership.

The revolt was lead by former board member, Roy Disney – nephew of the company’s founder, Walt.

Roy Disney claimed Eisner’s strategy has transformed the company into a ‘soul-less entity’, always looking for ‘the quick buck’, rather than attempting to create long-term goals.

Some analysts have said that the shareholders’ action comes two years too late, however, many claim Eisner has vindicated his strategy by improving the media giants’ fortunes.

Despite having a tumultuous five years, the Disney Group has pulled back some of the profit losses it suffered after 11 September 2001.

Reporting its first quarter figures last month, Disney announced a five per cent rise in revenue from its theme park business.

The price of shares in the group has also recently recovered from their slump, largely helped by the hostile takeover bid from cable company, Comcast.

Former US Senator, George Mitchell, was elected chair to replace Eisner. Details: www.disney.com

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Mary Rose Museum faces £2.2m funding shortfall as chief calls for increased independent museum support during COVID-19 crisis
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Alterface’s Creative Division team is seasoned in concept and ride development, as well as storyte [more...]
Painting With Light

By combining lighting, video, scenic and architectural elements, sound and special effects we tell s [more...]
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We create guest experiences others don’t, masterplan like no one else can, and give the world’s bi [more...]
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+ More profiles  
FEATURED SUPPLIER

Healthy appetite for investment at EAG International 2020
A buoyant EAG International has welcomed in the new decade as a well-rounded event with high levels of optimism and positivity on the show floor. [more...]
VIDEO GALLERY

Animalive - Introducing AnimaChat!
Introducing AnimaChat, one operator can live-stream into multiple venues. Find out more...
More videos:
Red Raion: Meet the Team - Introduction – Red Raion
Experience the experience – Polin Waterparks & Pool Systems
Red Raion Showreel 2019 – Red Raion
+ More videos  

CATALOGUE GALLERY
+ More catalogues  
DIRECTORY
+ More directory  
DIARY

 

06-08 Apr 2020

World Travel Market Africa

Cape Town International Convention Centre, Cape Town, South Africa
08 Oct 2020

VAC 2020 (The Annual National Conference of Visitor Attractions)

Queen Elizabeth II Conference Centre, London, United Kingdom
+ More diary  
 


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Hitchin, Hertfordshire SG5 1DJ Tel: +44 (0)1462 431385

©Cybertrek 2020

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