News

Roy Disney, Gold Won’t Back Board

2/08/2005 9:13 AM Eastern

The Walt Disney Co.’s dissident shareholders are at it again.

Roy Disney and Stanley Gold said they would withhold votes for the company’s board at its annual meeting Friday in order to speed the search to replace CEO Michael Eisner, Reuters reported.

Referring to reports that the board had not interviewed outside candidates competing with president and chief operating officer Bob Iger, and that delays were alienating potential candidates, the two shareholders said, “At this point in time, the board's credibility is in question. We are withholding our vote because we are withholding final judgment,” according to Reuters

Roy Disney and Gold said they want the company to finish the selection process by June, as planned, and then they want Eisner to step down as CEO, Reuters reported. Eisner has said that he plans to leave the CEO post in September 2006.

Want to read more stories like this?
Get our Free Newsletter Here!
September
October

VR 20/20

The Times Center, New York, NY