November 21, 2009
- Portland, Oregon
Disney board splits chairman, CEO positions
PHILADELPHIA - The Walt Disney Company's board has voted
to strip Michael Eisner of his chairman's post while retaining him
as CEO.
The decision came only hours after shareholders delivered a stinging rebuke by withholding 43 percent of their votes for his re-election to the board. Disney directors voted unanimously to split the chairman and chief executive duties and make board member George Mitchell the company's new chairman. At the same time, they voiced their continuing approval of Eisner's management and the company's strategy. The change was effective immediately. The action curbs Eisner's control of the company and satisfies the concerns of corporate governance groups who had called for the change. But it won't satisfy the company's most vocal critics who have vowed to continue their fight to oust Eisner.
|
 
Weather & TrafficWeather & Traffic
Stay ConnectedYouNews
This content requires the latest Adobe Flash Player and a browser with JavaScript enabled.
Click here for a free download of the latest Adobe Flash Player.
|
Most Popular
Viewer Poll |
Copyright © 2009
KATU, 2153 N.E. Sandy Blvd.,
Portland,
OR
97232
Copyright © 2008 Fisher Communications, Inc.
Powered by Broadcast Interactive Media.