Post by Mr. Hendrickson™ on Nov 30, 2003 19:36:01 GMT -5
'LOS ANGELES - Disney vice chairman Roy E. Disney has resigned from the media giant's board of directors, reportedly calling on chairman Michael Eisner to resign also.
Disney's resignation may be a pre-emptive move to avoid being forced off the board of The Walt Disney Co. The board's governance and nominating committee has decided not to recommend Disney for another term because he is over the mandated retirement age of 72, sources close to the company said Sunday.
The full board is scheduled to meet Monday and Tuesday in New York; board membership is on the meeting agenda.
The story was first reported in the Wall Street Journal, which said the 73-year-old Disney sent a scathing three-page letter to the board on Sunday, criticizing Eisner's leadership over the past seven years.
Disney, nephew of company co-founder Walt Disney, did not immediately return calls on Sunday.
Disney and his closest board associate, Stanley Gold, have been among Eisner's most vocal critics as the company's stock price has declined and ratings have fallen at its ABC Television network.
The two other board members who will not be nominated to serve new terms are Raymond Watson, 76, and Thomas Murphy, 77, according to a source. '
Now isnt that some shit!
Disney's resignation may be a pre-emptive move to avoid being forced off the board of The Walt Disney Co. The board's governance and nominating committee has decided not to recommend Disney for another term because he is over the mandated retirement age of 72, sources close to the company said Sunday.
The full board is scheduled to meet Monday and Tuesday in New York; board membership is on the meeting agenda.
The story was first reported in the Wall Street Journal, which said the 73-year-old Disney sent a scathing three-page letter to the board on Sunday, criticizing Eisner's leadership over the past seven years.
Disney, nephew of company co-founder Walt Disney, did not immediately return calls on Sunday.
Disney and his closest board associate, Stanley Gold, have been among Eisner's most vocal critics as the company's stock price has declined and ratings have fallen at its ABC Television network.
The two other board members who will not be nominated to serve new terms are Raymond Watson, 76, and Thomas Murphy, 77, according to a source. '
Now isnt that some shit!
