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#1
November 30th, 2003, 23:27
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Breaking News From The Walt Disney Company
Roy E. Disney resigned today!!!
Straight from the NYtimes.com The vice chairman of the Walt Disney Company, Roy E. Disney, resigned from the board of directors today, citing his ``serious differences of opinion'' with the chairman, Michael D. Eisner, ``about the direction and style of management in the company.'' Mr. Disney, the nephew of Walt Disney, also called for Mr. Eisner's resignation. In addition, Mr. Disney stepped down from his position as chairman of the feature animation division. The resignation lays bare a sharp conflict in an entertainment and media company that has called its theme parks ``the happiest place on earth.'' ``You well know that you and I have had serious differences of opinion about the direction and style of management in the company in recent years,'' Mr. Disney wrote to Mr. Eisner. ``For whatever reason, you have driven a wedge between me and those I work with even to the extent of requiring some of my associates to report my conversations and activities to you. I find this intolerable.'' Mr. Disney noted that the nominating committee had excluded him from the slate up for election to the board of the publicly held company, ``effectively muzzling my voice on the board.'' Just last year in a boardroom power play, Mr. Eisner prevailed over his chief critic and fellow board member, Stanley P. Gold, investment adviser to the family of Roy E. Disney, Walt Disney's nephew. After that episode, the board was reconfigured, in a move that was said to reduce the influence of Mr. Eisner's critics. Mr. Disney acknowledged that he fell into the category of critic. ``Michael, I believe your conduct has resulted from my clear and unambiguous statements to you and the board of directors that after 19 years at the helm you are no longer the best person to run the Walt Disney Company,'' Mr. Disney wrote, adding that in the last 10 years the company ``has lost its focus, its creative energy, and its heritage.'' The Disney company is listed on the New York Stock Exchange. Shares closed at $23.09 on Friday.
__________________
John "I only hope that we don't lose sight of one thing - that it was all started by a mouse." "Throught hard work and dedication all dreams can come true" 
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November 30th, 2003, 23:30
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#2 |
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Ginger Scurvy- BLENDER!
Last Online: June 26th, 2009 06:06
Join Date: Apr 2002
Location: Virginia
Posts: 9,599
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 that is a shame that Roy is leaving. Walt would not want this at all.
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December 1st, 2003, 00:25
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#3 |
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WDW Fanatic
 Last Online: April 18th, 2010 23:14
Join Date: Oct 2003
Location: Kent
Posts: 211
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Walt definately would want this but for some reason Roy does.
Mike |
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December 1st, 2003, 00:32
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#4 |
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Membership closed at user request
Last Online: August 6th, 2008 16:03
Join Date: Oct 2000
Location: Well here of course!
Posts: 13,521
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Anyone else feel a cold trickle of foreboding running down the spine?
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December 1st, 2003, 00:36
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#5 |
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~ Loves Virgin Radio!! ~
 
Last Online: May 2nd, 2007 01:45
Join Date: Jan 2002
Posts: 5,539
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Tink, I was thinking the same thing! I found this article:
David Koenig's prediction Roy announced it at the end of a four day weekend, the Sunday night before a heavy trading day. I'm sure this is not by accident. I can't wait to see what Mr. Mike does tomorrow morning. |
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December 1st, 2003, 01:37
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#6 |
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buried in calculus
 
Last Online: Today 02:37
Join Date: Nov 2002
Location: South Florida
Posts: 19,950
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wow.... that's so heavy stuff
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My College Program Blog * My Facebook Profile (If you add on FB, send me a note letting me know you're from here  ) 
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December 1st, 2003, 02:11
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#7 | |
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In awe of my Disney Princess!
 
Last Online: August 19th, 2010 01:41
Join Date: May 2002
Location: upstate NY
Posts: 816
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Quote:
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10/2000-All-Star Music (honeymoon)  10/2005-All-Star Movies (5th Anniversary) 
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December 1st, 2003, 02:44
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#8 |
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Junior Cast Member
 
Last Online: June 25th, 2004 22:24
Join Date: Sep 2003
Posts: 1
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Wow! Big news...
I sure hope that this doesn't mean the end for Disney... It could be bad...
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December 1st, 2003, 08:12
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#9 |
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Senior Cast Member
Last Online: March 6th, 2010 08:21
Join Date: Aug 2002
Location: Closer than you think
Posts: 171
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So does anyone think that I should start selling my Disney stock today?
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Goofy Guy Gawrsh!! 
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December 1st, 2003, 09:44
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#10 |
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Super Cast Member
 
Last Online: September 30th, 2008 14:44
Join Date: Aug 2003
Location: .
Posts: 1,900
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This is very bad news for Disney.
I have admired Michael Eisner in the past but he is beginning to make some very strange decisions. Totally disagree with him about his policies regarding animation - this is the lifeblood of the corporation and he seems to have forgotten that. Uncle Walt would definitely not be happy
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