Eisner Out!

Walt Disney has finally gotten around to choosing its next CEO. Michael Eisner, who originally stepped into save the company from certain destruction and had some of the studios biggest hits and aquisitions, will step aside a little earlier then planned – THIS SEPTEMBERFor details on who replaces him and what that might mean, read ahead…
After Eisner brought stability and that little bit of magic back into Disney, something began to happen that was much dire then even before he took over. In the mid-90’s that magic seeped out of the studio like it had twirled down a drain, all while the corporate holdings and media holdings seemed to increase. Could it be that Disney started caring more about quick and easy money then what was happening with the out of control situation at their studios? It would appear so, and ignoring the pleas of many Disney fans everywhere (including Roy Disney himself), Eisner has become enemy number one when it was obvious that raking in money hand over fist was more important then conjouring back that magic and putting out super high quality products and films that would pay off over and over later.Well then, who will replace him? This may be good news, or bad news, but it seems that it will be Robert Iger. He’s been President and COO of Disney since 2000, but how will he run the company? Unfortunately, insiders say he is nothing more than Eisner’s personal lacky and think he may run the company with the same lack of creativity as the current boss. Other’s have the hope that he may be playing possum until taking the reins for himself. Whatever the case, this may be the most important moment for Disney and its fans since the death of Walt himself.From CNN –“LOS ANGELES (Reuters) – Walt Disney Co.’s board on Sunday named company president Robert Iger to succeed Michael Eisner as chief executive of the film, television and theme park company, effective Sept. 30, 2005. Eisner, who previously had indicated he would stay until his contract ended in Sept. 2006, said in a letter that he would retire as CEO in September and remain on the board until the 2006 annual meeting. Eisner said he would not request that he be renominated to the board or seek the job as chairman when former Sen. George Mitchell retires. Iger was the front runner in the race to replace Eisner, but the timing of the announcement was sooner than expected, since the company’s board had set a June 2005 target to find a new chief. The announcement also came days after Roy Disney and Stanley Gold, former directors of Walt Disney Co. said in a letter to directors that they were subverting the search for a new chief executive. Gold and Disney had given the board qualified support in its aim to find a new CEO by June, but the pair, who helped spark a 2004 shareholder revolt that led to Eisner losing the title of chairman, returned to their critical stance. The New York Times said on its online edition on Sunday Meg Whitman, eBay Inc.’s chief executive, was a potential candidate, but she informed Disney that she was not interested in replacing Eisner, the paper said. Other candidates on the board’s short list included Peter Chernin, the chief operating officer of News Corp., and Viacom Inc.’s co-presidents Tom Freston and Leslie Moonves, the Web site said. Mitchell said in a statement that the board had compared internal and external candidates but did not say how many people had been interviewed for the job. Eisner, 64, has been chief executive of Walt Disney since 1984. After strong growth through the 1980s and early 1990s, Eisner has endured recent criticism for overpaying for the Fox Family Channel. Eisner had contentious business dealings with key partners that have helped Disney’s recent results. Pixar Animation Studios Inc., the maker of “Toy Story” and “The Incredibles,” is ending its partnership with Disney and looking for a new distributor for its films. Eisner and Miramax Films co-chief executive Harvey Weinstein have feuded over pay and accounting for profitability at the Disney division responsible for Oscar-winning films such as “Chicago” and “Shakespeare in Love.” Iger, 54, has been president and chief operating officer of the company since January 2000. His career started at ABC in 1974 in New York as a studio supervisor and he joined Disney after the company acquired Capital Cities/ABC in 1996.”

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

*

Lost Password